Find the solution to the following advertising decision game between Adidas and Nike by using the method of successive elimination of dominated strategies. a. Does Adidas have a dominated strategy in the original payoff table? If so, what is it and why is it dominated? If not, why not?b. Does Nike have a dominated strategy in the original payoff table? If so, what is it and why is it dominated? If not, why not?c. After the first round of eliminating any dominated strategies that might exist in the original payoff table, describe the strategic situation facing Adidas and Nike in the reduced (second-round) payoff table.d. What is the likely outcome of this advertising decision problem?e. Nike's highest payoff occurs when Adidas chooses a low advertising budget and Nike chooses a high ad budget. Using game theory, explain why Nike would not be expected to choose a high ad budget.

Adidas Low Medium High A Low B C $100, $95 $95, $105 $80, $90 Nike Medium D E F $105, $86 $85, $87 $70, $88 High G H $110, $85 $90, $86 $78, $87 Payoffs in millions of dollars of annual profit