Refer to Table 14.3. The result of this game is known as a

A) prisoners' dilemma.
B) collusive outcome.
C) repeated strategy.
D) tit-for-tat outcome.

Prisoners' Dilemma

A scenario in game theory where two individuals act in their own self-interest but would have been better off cooperating.

Collusive Outcome

A situation in which firms in a market or industry agree to set prices or output levels cooperatively, often leading to higher prices for consumers.