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(Solved): What does the "prisoner's dilemma" represent in game theory? A. A situation where firms cooperate to ...



What does the "prisoner's dilemma" represent in game theory?

A. A situation where firms cooperate to maximize joint profits
B. A situation where firms collude to fix prices
C. A situation where firms engage in non-price competition
D. A situation where individual rationality leads to a suboptimal outcome



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