A cartel-like collusive solution can be a Nash equilibrium only in price-setting games with:
a. infinite replications.
b. finite replications.
c. dominant strategies.
d. more than two players.
a
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If France has a trade deficit, then
A) imports into France exceed exports from France. B) exports from France exceed imports into France. C) imports into the United States from France exceed exports from the United States into France. D) imports into France from the United States exceed exports from France into the United States.
A small number of firms competing with each other is characteristic of: a. monopolistic competition. b. perfect competition
c. oligopoly. d. monopoly.
Econometrics is the use of statistics to quantify and test economic models
Indicate whether the statement is true or false
Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch.
The equilibrium to the game results in ________ for Amy and Tracy relative to what they could get if they could solve their ________.
A. lower payoffs; commitment problem B. lower payoffs; prisoner's dilemma C. higher payoffs; commitment problem D. lower payoffs; credible threat