Question
Prior to regulation by the federal government, many folks believed that the tobacco industry was characterized by a prisoner's dilemma in that tobacco firms all
Prior to regulation by the federal government, many folks believed that the tobacco industry was characterized by a prisoner's dilemma in that tobacco firms all spent lots of money on advertising and had sales of X, but would 2 have preferred to simply cooperate by not spending money on advertising while getting sales of just a little bit less than X. make a normal form game for two firms called GM and P&W, respectively. Each firm has two strategies (advertise, don't advertise). In your game create payoffs that satisfy the definition of a prisoner's dilemma.
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