(Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics) , which statement BEST describes the scenario displayed in the table?
A) It depicts a prisoner's dilemma.
B) Neither Norm nor Pete has a dominant strategy.
C) Norm's dominant strategy is a high price.
D) Pete has a dominant strategy, but Norm does not.
Correct Answer:
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