The following are the equations for the supply and demand curves in the market for weezils: 
where Q d is the quantity demanded, Q s is the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. If the government imposes a price floor of $4 a weezil, how many weezils will be sold?
Definitions:
Prisoner's Dilemma
A situation in game theory where two individuals acting in their own self-interest do not produce the optimal outcome, showing the conflict between personal and collective rationality.
Nash Equilibrium
An idea in game theory stating that no participant can gain an advantage by altering their strategy if all other participants maintain their current strategies.
Cooperating
The act of working together towards a common goal or purpose, often implying mutual assistance and collaboration.
Nash Equilibrium
A concept in game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.
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