This Question: 1 pt 23 of 42 (20 complete) This Quiz: 50 pts possible Suppose there are only two firms in an industry. If they each set a high price, they each earn $5000. If they each set a low price, they each earn $2500. If one firm sets a low price while the other sets a high price, the low - price firm earns $7000 while the high - price firm earns $1000. Does a prisoners' dilemma exist? O A. Yes, the Nash equilibrium does not maximize the joint payoff. O B. No, the Nash equilibrium does not maximize the joint payoff. O C. No, the Nash equilibrium does not maximize the individual payoff. D. Yes, because there is always a prisoner's dilemma in game theory. E. It cannot be determined from the information provided. Click to select your answer. 2:02 PM 3 ~ 9 0 1 ( 1) ENG 2020-12 IC O Type here to search