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Explain why the payoff matrix indicates that firms A and B face the prisoners’ dilemma. (The optimal

Question: Explain why the payoff matrix indicates that firms A and B face the prisoners’ dilemma. (The optimal strategy for firm A and B is to adopt its dominant strategy of charging a low price.

		Firm B
		Low Price	High Price
	Low Price	(1,1)	(3, -1)
Firm A
	High Price	(-1, 3)	(2, 2)

Price: $2.99

Answer: The solution consists of 1 page
Type of Deliverable: Word Document

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Explain why the payoff matrix indicates that firms A and B face the prisoners’ dilemma. (The optimal

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