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Show how a trade war can be modelled as a prisoner's dilemma. What are the likely outcomes? Ensure you differentiate between a single-period and a

Show how a trade war can be modelled as a prisoner's dilemma. What are the likely outcomes? Ensure you differentiate between a single-period and a repeated prisoner's dilemma and include the appropriate payoff matrices (i.e. the tables showing what payoffs each player receives from the decisions).

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