Choose the best option

A two-player prisoners' dilemma game is repeated with probability p at the end of each round. For each play, the payoffs are as shown. There is no discounting.

Cooperate Fight

Cooperate 2,2 -4,3

Fight 3,-4 1,1

a) Cooperation is possible in equilibrium if p=0.4.

b) Cooperation is never possible.

c) Cooperation is possible in equilibrium if p < 0.5

d )Cooperation is possible in equilibrium if p >0.5.

. e) None of the above..