Answer: E

Pls THOROUGHLY explain CONCEPT + MATH

12. The following table contains the possible actions and payoffs of players 1 and 2 . This game is repeated 100 times, and at each period both players must choose their actions simultaneously. The players are deciding whether or not to cooperate. They are considering a simple agreement: Cooperate as long as no firm has deviated, and Not Cooperate forever if some firm deviates. Players discount the future according to the interest rate r=0.60. In this case, how many times will the players cooperate? a. 50 b. 100 c. 60 d. 40 e. None of the above