When the prisoners follow their dominant strategy and confess, they will be worse off than if both had remained silent—hence, the "prisoners' dilemma."
a. True
b. False
Indicate whether the statement is true or false
True
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The marginal revenue curve for a perfectly competitive firm
A) is the same as its demand curve. B) is perfectly inelastic. C) is downward-sloping. D) is the same as its marginal cost curve.
If a monopolist practices perfect price discrimination
A) consumers surplus will be equal to the deadweight loss. B) consumer surplus will be zero. C) the firm will break even in the long run. D) producer surplus will equal consumer surplus.
Holding all else constant, a rise in interest rates in the United States will cause the dollar to appreciate in international exchange markets
Indicate whether the statement is true or false
In macroeconomic analysis, a transfer payment is considered a
a. positive tax. b. fixed tax. c. negative tax. d. variable tax.