General Mills and Kellogg€™s, major rivals in the breakfast cereal market, decide simultaneously on their advertising strategies. Each has five options, A through E. The following table shows their net profits (in millions of dollars) for various advertising strategy combinations. In each cell, the first entry is the profit for Kellogg€™s and the second is the profit for General Mills. 

a. Use Excel to create a spreadsheet showing only the payoff to Kellogg€™s arising from each strategy combination. For each possible strategy for General Mills (that is, for each column), determine the best response for Kellogg€™s.

b. In the same spreadsheet, create a new block of entries showing the payoff to General Mills for each strategy combination. For each possible strategy of Kellogg€™s, identify General Mills€™ highest possible payoff and corresponding best strategy.

c. Determine the Nash equilibrium for this game. Is it a dominant-strategy equilibrium?

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Kellogg's General Mills A 23, 22 37, 18 21, 20 25, 15 42, 11 27, 29 30, 20 25, 22 27, 27 11, 24 28, 22 30, 20 37, 18 34, 16 32, 18 38, 24 32, 25 19, 20 41, 26 28, 23 33, 17 25, 22 30, 19 21, 31 23, 28