In the fall of 2007, the Writers Guild and AMPTP were embroiled in an intense negotiation, mainly disagreeing on how writers are compensated for digital media work such as web series and online-only content. The given payoff matrix contains the strategies and outcomes of each party in the negotiation. They could either compromise (C) or hold firm (HF) on their issues. If Macmillan Learning both parties hold firm, the Writers Guild will go on strike. The first number in each box is the Writers Guild's payoff and the second number is AMPTP's payoff. Assume that strategies are chosen independently and simultaneously. AMPTP Hold firm Compromise Hold firm 0,0 10 , 3 Writers Guild Compromise 3 , 10 5 , 5 What are the Nash equilibria? Writers Guild holds firm and AMPTP compromises Writers Guild holds firm and AMPTP holds firm Writers Guild compromises and AMPTP compromises Writers Guild compromises and AMPTP holds firm This is an example of the prisoners' dilemma