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The Following Table Depicts Two Firms in a Single-Stage Duopoly

Question 72

Multiple Choice

The following table depicts two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.If X is greater than $3,500,then there is/are
The following table depicts two firms in a single-stage duopoly game.Each firm makes its decision without knowledge of the other firm's decision.The payoffs for each firm represent economic profits,and each firm strictly prefers more economic profit than less.If X is greater than $3,500,then there is/are   A)  only one Nash equilibrium,and this game would be considered a prisoner's dilemma. B)  two Nash equilibriums,and this game would be considered a prisoner's dilemma. C)  three Nash equilibriums,and this game would be considered a prisoner's dilemma. D)  only one Nash equilibrium,and this game would not be considered a prisoner's dilemma. E)  two Nash equilibriums,and this game would not be considered a prisoner's dilemma.


A) only one Nash equilibrium,and this game would be considered a prisoner's dilemma.
B) two Nash equilibriums,and this game would be considered a prisoner's dilemma.
C) three Nash equilibriums,and this game would be considered a prisoner's dilemma.
D) only one Nash equilibrium,and this game would not be considered a prisoner's dilemma.
E) two Nash equilibriums,and this game would not be considered a prisoner's dilemma.

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