Use the following to answer questions:
Figure: Prisoners' Dilemma for Thelma and Louise 
-(Figure: Prisoners' Dilemma for Thelma and Louise) Look at the Figure Prisoners' Dilemma for Thelma and Louise. Thelma and Louise are arrested and jailed for murder. Given the payoff matrix in the figure, the Nash equilibrium behavior is for Thelma _____ and Louise _____.
Definitions:
Perpetuity Formulas
Mathematical equations used to calculate the value of payments or cash flows that continue indefinitely.
Terminal Values
The estimated value of an asset at the end of its useful life or an investment at the end of a forecast period.
Opportunity Costs
The cost of foregoing the next best alternative when making a decision, representing the benefits an individual, investor, or business misses out on when choosing one alternative over another.
Depreciation
The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value over time.
Q1: There are only two gas stations, Swifty
Q32: Competition limits the price a monopolistically competitive
Q60: In a long-run equilibrium, firms in a
Q97: Which of the following scenarios is likely
Q115: (Table: Prices and Demand) Look at the
Q167: (Figure: Monopoly Model) Look at the figure
Q175: (Figure: Efficiency and Pollution) Look at the
Q214: (Figure: The Market for Gas Stations) Look
Q272: Wendy has a monopoly in the retailing
Q289: (Table: Demand Schedule for Gadgets) Look at