Consider Figure 12.5. If neither player confesses, then:
A. both players spend 4 years in jail.
B. both players spend 1 year in jail.
C. player A spends 0 years in jail, and player B spends 8 years in jail.
D. player A spends 8 years in jail, and player B spends 0 years in jail.
Answer: B
You might also like to view...
When a country imports a good or service from the rest of the world, the consumer gains because the greater the ________ in price and ________ in quantity bought, the greater is the ________ to the consumer
A) fall; decrease; gain B) rise; increase; gain C) fall, increase; gain D) fall; increase; loss E) rise; decrease; gain
Refer to the figure above. Calculate the total surplus after the government imposes a tariff of $1 per unit
A) $160 B) $240 C) $300 D) $315
Buyers and sellers receive market signals
A. from their friends and acquaintances. B. from news announcements of the government. C. through the price system. D. from the gossip columns in the newspapers.
Tina's marginal utility of her first piece of cake is 15, while Jerry's marginal utility of his first piece of cake is 24 . An economist would conclude that
a. Tina likes cake more than Jerry likes cake b. Jerry likes cake more than Tina likes cake c. Tina likes cake less than Jerry likes cake d. Jerry likes cake less than Tina likes cake e. we can't judge who values cake more