The Following Matrix Shows the Pricing Strategies and Resultant Profits

The following matrix shows the pricing strategies and resultant profits (in thousands of dollars) for two profit-maximizing firms.
Table 9-1

-What is meant by a prisoner's dilemma?

A) A strategic situation in which some individuals enjoy the benefits of a good without incurring any of the costs associated with the good.
B) A strategic situation where there is a collective benefit from cooperation but the self-interest of individuals leads to an inferior outcome.
C) A strategic situation in which players make decisions in a sequential manner based on some information on the previous player's moves.
D) A strategic situation where a group of firms collude to set higher prices and maximize profits.
E) A strategic situation in which all players make their moves simultaneously,with no information about the other players' actions and in the process maximize individual returns.