Dominant strategies are always present in simumtaneous games. Result in a prison

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Dominant strategies are always present in simumtaneous games. Result in a prisoners' dilemma. Result in one firm winning and the other losing. None of the above. One interesting feature of a prisoner's dilemma game is that non -cooperative behavior leads to lower payoffs than cooperative behavior. it was only valid before the industrial revolution. individuals behave irrationally when they behave non-cooperatively cooperative behavior leads to lower payoffs than non-coopearative behavior. The above figure shows a payoff matrix for two firms, A and B, that must choose between a high-price strategy and a low-price strategy. For firm B setting a high price is the dominant strategy. setting a low price is the dominant strategy. there is no dominant strategy. doing the opposit A strategy in which a player uses probabilities to decide which strategy to use is called a pure strategy. mixed strategy. dominant strategy. coin flip strategy. In the above table, if the players use a maximum strategy firm A produces a High Quality product and firm B produces a Low Quality product. the equilibrium choice is the same as using a regular, best response strategy. both firms produce a High Quality product. firm A produces a Low Quality product and firm B produces a High Quality product

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