14. Oligopoly
One-Time Games and the Prisoner's Dilemma
Multiple Choice
Multiple ChoiceBased on the information in the payoff matrix, which of the following is true?
A
This situation is not a prisoner's dilemma
B
If Walmart lowers its price, Target should keep its prices high
C
If Target lowers its price and Walmart does not, Target will earn $20 million economic profit
D
Both Walmart and Target would jointly be better off if they could each keep their prices high
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