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Question: the payoff matrix below shows the payoffs in millions of...

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The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital.

Firm B Invest Not invest 20 for A 20 for B 70 for A Invest 5 for B Firm A 5 for A 50 for A Not invest 70 for B 50 for B

This game is an example of a:

Select one:

a. cartel.

b. credible promise.

c. prisoner's dilemma.

d. game with multiple equilibria.

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