APFIVE Nash Equilibrium in a Payoff Matrix
The payoff matrix below represents a one-shot game between two oligopolistic firms. What is the resulting Nash equilibrium?
| | Cooperate | Defect |
|----------------|-----------|--------|
| Cooperate | (3, 3) | (1, 4) |
| Defect | (4, 1) | (2, 2) |
A
Firm A cooperates while Firm B defects.
B
Both firms cooperate.
C
Firm A defects while Firm B cooperates.
D
Both firms defect.
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