A game involving two players with two possible strategies is a prisoner's dilemma if each player has a dominant strategy and:
A. each player's payoff is higher when both play their dominant strategy than when both play their dominated strategy.
B. there is a Nash equilibrium that yields the highest payoff for both players.
C. each player's payoff is higher when both play their dominated strategy than when both play their dominant strategy.
D. neither player plays their dominant strategy.
Answer: C
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The elimination of automatic stabilizers would decrease the need for other fiscal policies.
Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)
Refer to the table below. The firm experiences minimum efficient scale at what output level?
Plant sizes get larger as you move from ATC-1 to ATC-4.
A. 2500
B. 3000
C. 3500
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