The prisoners' dilemma has an equilibrium that is
A) a Nash equilibrium and both players confess.
B) not a Nash equilibrium and both players confess.
C) a Nash equilibrium and both players deny.
D) not a Nash equilibrium and both players deny.
A
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IBM and Sara Lee are two of the biggest firms in the United States, but they produce different products. Could they legally merge, or would their merger be struck down by the courts?
An important law in the U.S. regulation of markets is the:
A. Sherman Antitrust Act of 1890. B. Lincoln Antitrust Act of 1890. C. Standard Oil Antitrust Act of 1890. D. Alcoa Antitrust Act of 1890.
To encourage invention and innovation, the government provides
A) patents. B) public franchises. C) government licenses. D) natural monopolies. E) easily obtained ownership barriers to entry.
When positive spending shocks occur, transfer payments automatically fall
a. True b. False