In a Prisoners' Dilemma, both players are willing to pay to be forced to cooperate.

Answer the following statement true (T) or false (F)


True

Rationale: Both players prefer the cooperative outcome to the non-cooperative outcome -- they just can't sustain it. Thus, they would be willing to pay to be forced to cooperate.

Economics

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What will be an ideal response?

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If the bidders at an oral auction have true values of $78, $72, $66, and $65, the item will sell for

a. $78 b. just under $78 c. $72 d. just over $72

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Which of the following is an example of a positive externality?

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In which of the following periods did the U.S. experience a serious recession?

A) 1980-81 B) 2008-09 C) 1929-33 D) all of the above

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