The following is a payoff matrix showing profit in millions of dollars when two companies simultaneously decide on various advertising budgets ($1 million, $2 million, or $3 million):

			Pizza Hut
		$1 mill	$2 mill	$3 mill
	$1 mill	$45/ $85	40/ 80	25/ 90
Papa Johns	$2 mill	40/ 75	30/ 60	20/ 70
	$3 mill	50/ 65	35/ 55	30/ 60

1. In the first round of strategy elimination (when all three possible budgets are under consideration), which ad budget would the companies exclude?
   1. Papa Johns would eliminate the $2mil budget // Pizza Hut would eliminate $2 mil
2. After the first round of elimination (previous question), would either company make a second-round elimination?
   1. Papa Johns would eliminate the $1mil budget // Pizza Hut would not eliminate anything
3. What would be the likely outcome of this simultaneous advertising decision (i.e. what ad budget would each company end up choosing)?
   1. Papa Johns $3mil and Pizza Hut $1mil