Consider the following one-shot simultaneous game: Firm 2 Advertising campaign Do nothing Firm 1 Advertising campain 3, 8 20, 8 Offer discounts 6, 8 9, 2 Do nothing 7, 10 9, 12 a. Before solving the game, put yourself in the position of Firm 1, and choose your play. Then put yourself in the position of Firm 2, and choose your play (ignoring what you did as Firm 1). Write down your reasoning (not as a game theorist, but as a layperson). b. State all the dominated strategies in the game, by which strategy they are dominated, and whether weakly or strictly. c. What is the equilibrium outcome by dominance (by elimination of dominated strategies), if any? d. What is (or are) the pure strategy Nash equilibria of this game? e. Compare the outcomes in c. and a., and if they differ, explain why (focusing on the way you were thinking in each case).Consider the following one-shot simultaneous game: Firm 2 Advertising campaign Do nothing Firm 1 Advertising campain 3, 8 20, 8 Offer discounts 6, 8 9, 2 Do nothing 7, 10 9, 12 a. Before solving the game, put yourself in the position of Firm 1, and choose your play. Then put yourself in the position of Firm 2, and choose your play (ignoring what you did as Firm 1). Write down your reasoning (not as a game theorist, but as a layperson). b. State all the dominated strategies in the game, by which strategy they are dominated, and whether weakly or strictly. c. What is the equilibrium outcome by dominance (by elimination of dominated strategies), if any? d. What is (or are) the pure strategy Nash equilibria of this game? e. Compare the outcomes in c. and a., and if they differ, explain why (focusing on the way you were thinking in each case).