Newfoundland's fishing industry has recently declined sharply due to overfishing, even though fishing companies were supposedly bound by a quota agreement. if all fishermen had abided by the agreement, yields could have been maintained at high levels.

a. model this situation as a prisoner's dilemma in which the players are company a and company b and the strategies are to keep the quota and break the quota. for each possible combination of strategies, decide whether each company could have received a higher payoff in the current period by making a different choice.