The game in the figure shown is a version of:
A. the prisoner's dilemma.
B. the first-mover advantage.
C. a sequential game.
D. a repeated game.
A. the prisoner's dilemma.
You might also like to view...
The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a steak dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners. B) It would rotate outward around the vertical intercept, 10 lobster dinners. C) It would rotate inward around the horizontal intercept, 20 steak dinners. D) It would rotate outward around the horizontal intercept, 20 steak dinners.
If speculators believe a currency is undervalued, their trades in international exchange markets will
A) increase the surplus of the currency at the existing fixed exchange rate. B) increase the shortage of the currency at the existing fixed exchange rate. C) decrease the shortage of the currency at the existing fixed exchange rate. D) decrease the surplus of the currency at the existing fixed exchange rate.
The economic basis for trade is based on absolute advantage.
Answer the following statement true (T) or false (F)
Excess capacity implies:
A. Productive inefficiency B. Allocation inefficiency C. Productive efficiency D. Allocation efficiency