Question 1. (15 points) Consider the following game:

Question 1. (15 points) Consider the following game: Column A B Row A 4, 4 12, 2 B 2, 12 10, 10 Suppose this game is repeated infinitely and that the two players use tit-for-tat strategy. (a) (8 points) If the rate of return r = 2, is one-time defection worthwhile? Show your work. If the rate of return r = 2, is continued defection worthwhile? Show your work.(b) (7 points) What is the range of values of the rate of return / so that cooperation will be sustained against a one-time defection by a player? What is the range of values of the rate of return / so that cooperation will be sustained against continued defection by a player