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points skipped eBook El References Newfoundland's shing industry has recently declined sharply due to overfishing, even though fishing companies were supposedly bound by a quota agreement. If all fishermen had abided by the agreement, yields could have been maintained at high levels. Model this situation as a prisoner's dilemma in which the players are Company A and Company B, and the strategies are to keep the quota and break the quota. Suppose that if both companies keep the quota. then each receives a payoff of $100, and if both break the quota, then each receives a payoff of $0. On the other hand, if one company breaks the quota and the other keeps the quota, then the company that breaks the quota receives a payoff of $150, and the company that keeps the quota receives a payoff of $50. Instructions: Enter the players' payoffs in the payoff matrix below. Be sure to include a negative sign H in front of any negative numbers. Company B Keep quota Break quota :I for Company A for Company A Keep quota Company :I for Company B :Ifor Company B A :l for Company A for Company A Break quota :l for Company B :Ifor Company B What is the dominant strategy for both companies? Neither company has a dominant strategy. Break the quota. Keep the quota. In equilibrium, what is each company's payoff? Company A will receive a payoff of $150. and Company B will receive a payoff of -$50. Each company will receive a payoff of $0. Company B will receive a payoff of $150, and Company A will receive a payoff of -$50. Each company will receive a payoff of $100. Relative to the equilibrium outcome, both companies would be better off if they . In equilibrium, what is each company's payoff? ' Company A will receive a payoff of $150, and Company B will receive a payoff of $50. Each company will receive a payoff of $0. Company B will receive a payoff of $150, and Company A will receive a payoff of $50. ' Each company will receive a payoff of $100. Relative to the equilibrium outcome, both companies would be better off if the' u (Click to select) both kept the quota both broke the quota