Question: Please answer Question 3 [10 marks} Consider the following gaJne: a. Suppose this game is played for T=5 rounds. Can the players cooperate and play

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Question 3 [10 marks} Consider the following gaJne: a. Suppose this game is played for T=5 rounds. Can the players cooperate and play C. C even in one round? Explain. [4 marks] h. Now suppose that both players play this game innitely. In each period their payoffs are discounted by the discount factor delta. Come up with a strategy where the players can play [Lg in every round. What are the conditions necessary on the discount factor delta= to ensure the cooperative strategy C. C to he played forever? [6 marks]

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