Farmers rotate their crops between corn and soybean to increase crop yields. This behavior exhibits a. Economies of scale b. D
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Answer:
A. Check the attached image for the payoff matrix
B. Confess
C. Confess
D. 3 years. They could have avoided this by confessing.
Explanation:
The above question is known as the prisoner's dilemma. It is a form of game theory. It analyses the best option for a player in a game without regard for what the other player does.
The dominant strategy is the best decision for the player without considering what the other player does or without cooperation between the players. The dominant strategy for each of the prisoners is to confess because if one confesses and the other doesn't, the one that confesses goes free. If both prisoners confesses, they get 10 years each. These is a better option than not confessing and getting either 3 years or 15 years of prison sentence.
Because both players don't confess, hence they get 3 years in prison. They could have avoided the sentence by confessing.
I hope my answer helps you
