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There are 2 rms which each must make a decision of whether or not to undertake R&D. The payoff diagram is below: __ ---- R&D

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There are 2 rms which each must make a decision of whether or not to undertake R&D. The payoff diagram is below: __ ---- R&D R&D Which statement is true? Exactly 1 player has a dominant strategy 0 There is no dominant strategy equillibrium 0 Both rm choose NOT and the game is a prisoners' dilemma 0 Both rms choose NOT to engage in R&D and this is not a prisoners' dilemma 0 None of the above

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