[Solution Library] Demonstrate how the Prisoner’s Dilemma (PD) game can be used to analyse competition between two firms in a duopoly. Does it make any difference
Question: Demonstrate how the Prisoner’s Dilemma (PD) game can be used to analyse competition between two firms in a duopoly. Does it make any difference if the firms are competing on price or output? Does it make any difference if the PD game is played as a sequential-move game rather than a simultaneous move game?
Deliverable: Word Document 
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[Step-by-Step] Briefly explain each of the following terms: Nash
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