[Solved] A Prisoner's Dilemma Is a Strategic Situation in Which
A prisoner's dilemma is a strategic situation in which:
A) some individuals enjoy the benefits of a good without incurring any of its costs.
B) there is a collective benefit from cooperation but the self-interest of individuals leads to an inferior outcome.
C) players make sequential decisions.
D) a group of firms collude to set higher prices and maximize profits.
E) all players make their moves simultaneously, with no information about the other players' actions and in the process maximize individual returns.