please elaborate your answer

HOW HARD SHOULD YOU STUDY? Assume the two players in the game are: 1. You, and 2. All other students. Students can either study a lot or study a little. If all students including you study a lot, then everyone's payoff on the test will be 85. (Think of this as your good test grade). If you study a lot and the rest of the class studies a little, then you will receive a payoff of 100 and the rest of the class will receive a payoff of 50 and the exact reverse is true if you and the class reverse strategies. If everyone including you studies a little, then everyone's payoff will be 85. Model this situation as a game with a payoff matrix shown below. All other students Study a lot Study a little Study a lot You Study a little What strategies will you and the rest of the class choose? Why? Is this game a prisoner's dilemma? Why or why not