Firms still have the incentive to cheat even after a game leads to cooperation
Indicate whether the statement is true or false
True
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In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid B) the auctioneer begins the bidding process with a low starting bid C) the auctioneer begins the bidding process with a high starting bid D) the bidders decide the starting bid
An increase in demand could arise from which of the following factors
a. an increase in income b. a decrease in the price of a substitute c. an increase in the price of a complement d. all of the above
Games that don't have a dominant strategy:
A. do not have stable equilibrium outcomes. B. may have stable equilibrium outcomes. C. always have stable equilibrium outcomes. D. don't exist; all games have at least one dominant strategy.
Once a division manager sees that production goal for a time period is likely to be met
a. he has an incentive to increase the pace of production b. he has an incentive to decrease the pace of production c. he does not have an incentive to change the pace of production d. he has an incentive to produce other products