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Game Theory Q. Come up with a business or economics situation that can be modeled as a Prisoner's Dilemma . Use a few sentences to

Game Theory

Q. Come up witha business or economics situationthat can be modeled as aPrisoner's Dilemma. Use a few sentences to describe the situation, and thepayoffs to playersassociated with different decisions. Draw thenormal form of the game, and make sure to include all of the relevant information. Identify thedominant and dominated strategiesof each player. Identify allNash Equilibria. Is the Nash EquilibriumPareto efficient? Why or why not?

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