The following table depicts two firms in a single-stage duopoly game. Each firm makes its decision without knowledge of the other firm's decision. The payoffs for each firm represent economic profits, and each firm strictly prefers more economic profit than less. If X is greater than $3,500, then there is/are

Tasha's Flower Shop

Produce 300 flowers Produce 200 flowers

$2,500 $3,500

Produce 200 $2,500 $1000

Flowers

Joshua's

flower shop ----------------------------------------------------------------------------------------------

$1000 X

Produce 300 $3,500 X

flowers

a.only one Nash equilibrium, and this game would be considered a prisoner's dilemma

b.two Nash equilibrium, and this game would be considered a prisoner's dilemma

c.three Nash equilibrium, and this game would be considered a prisoner's dilemma

d.only one Nash equilibrium, and this game would not be considered a prisoner's dilemma

e.two Nash equilibrium, and this game would not be considered a prisoner's dilemma