Question: Help please! 2. Suppose Procter & Gamble (P&G) and Johnson & Johnson (JNJ) are simultaneously considering new advertising campaigns. Each firm may choose a high,
Help please!

2. Suppose Procter & Gamble (P&G) and Johnson & Johnson (JNJ) are simultaneously considering new advertising campaigns. Each firm may choose a high, medium or low level of advertising. What are each firm's best response to its rival's strategies? Does either firm have a dominant strategy? What is the Nash equilibrium in this game? PG High Medium Low High 1,1 3,2 5,3 JNJ Medium 2,3 4.4 6,5 Low 3,4 5,6 7,5 3 Mufasa wants his son, Simba, to succeed at school (in Pride Rock). He decides to reward Simba if his grades are above 90% of his class. If it is not, then Simba will not be rewarded. The payoff matrix is Simba 90th percentile Lower percentile 90th percentile 2,4 0,2 Mufasa Lower percentile 1,3 -1,1 If they choose their actions simultaneously, does either Mufasa or Simba have a dominant strategy in the payoff matrix above? Is there a Nash equilibrium
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