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4. The following is a payo matrix showing prot in millions of dollars when two companies simultaneously decide on various advertising budgets ($1 million= $2

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4. The following is a payo matrix showing prot in millions of dollars when two companies simultaneously decide on various advertising budgets ($1 million= $2 million, or $3 million): Pizza Hut 51 mm 52 mm 53 mm $1 mill $311} f 5415 El] f 420 ZED f 390 Papa Johns $2 mill 2?!) f 410' 230 I 405 ZED f 330 $3 mill 305 .3395 300E400 210L175 a. In the rst round of strategy.r elimination [when all three possible budgets are under consideration)= which ad budget would the companies exclude? b. After the rst round of elimination {previous question], would either company make a secondround elimination? c. mat would be the liker outcome of this simultaneous advertising decision {i_e_ what ad budget would each companyr end up choosing)

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