Though Nash games are noncooperative, a cooperative outcome is more likely if
A. firms can easily monitor the outcomes from a rival's defection.
B. firms expect the market relationship to last only for a short time.
C. the long-run gains are smaller than the short-run gains.
D. firms expect the market relationship to last a long time.
Answer: D
You might also like to view...
To economists, a game is:
A. any situation in which players pursue strategies designed to achieve their goals. B. a trivial pursuit that should not be used to analyze the economy or its actors. C. a way to simplify and minimize the true importance of situations like war. D. All of these statements are true.
What determines the correct level of input for labor in a firm?
a. Marginal resource cost is higher than marginal revenue product. b. Marginal revenue product is expected to exceed the wage. c. The average total cost of labor exceeds marginal revenue product. d. Marginal resource cost exceeds average total cost of labor.
Monetary policy operates mainly on investment, which responds slowly to changes in interest rates.
Answer the following statement true (T) or false (F)
Sustained economic growth emerged in history when some nations of the world managed to create conditions where
What will be an ideal response?