Problem
If governments make trade policies based on national economic welfare, is the problem of trade warfare still represented by a Prisoner's dilemma game as in Figure 9-3? What is the equilibrium solution to the game if governments formulate policy in this way? Would they ever choose the strategy of protectionism?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.