In the prisoners' dilemma game, when each player takes the best possible action given the action of the other player, ________
A) a competitive equilibrium is reached
B) one player denies and one player confesses
C) both players deny
D) a Nash equilibrium is reached
D
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Employment discrimination leads to the _________________ of labor.
Fill in the blank(s) with the appropriate word(s).
How did the Mexican debt crisis of the early 1980s come about? How has the Mexican economy coped during the past 20 years, in the aftermath of the debt crisis? What has been the legacy of the debt crisis for the Mexican economy?
What will be an ideal response?
Suppose the production of a good results in negative externalities. If output is at the intersection of the demand curve and the marginal social cost curve, then
A. the socially optimal level of output will be produced. B. society will incur a net social cost. C. society will want less output produced, and producers will be willing to satisfy this desire at a price that society deems acceptable. D. b and c
In the U.S., one example of a cartel that is legal is
A) the railroads, including Union Pacific. B) the oil industry. C) Major League Baseball. D) None, all cartels are prohibited.