If firms adopt a strategy that triggers a permanent punishment, the result in an indefinitely repeated game is
A) undefined.
B) the noncooperative Nash equilibrium.
C) the collusive Nash equilibrium.
D) economically inefficient.
C
You might also like to view...
The above table shows the total product of producing baseball hats. The marginal product of the 4th worker is equal to
A) 25 baseball hats. B) 21 baseball hats. C) 7 baseball hats. D) 6.25 baseball hats.
Currency substitution means
(a) use of money instead of barter. (b) use of countertrade instead of money. (c) use of foreign exchange instead of domestic currency. (d) all of the above. (e) none of the above.
Which statement is true?
A. Nations should strive for self-sufficiency. B. The U.S. balance of trade has always been positive. C. Our biggest trade deficit was a little over $150 billion. D. Our balance of trade turned negative in the mid-1970s.
The smallest single component of M1 is:
A. demand deposits. B. savings account balances. C. other checkable deposits. D. traveler's checks.