In a finitely repeated prisoners' dilemma game
A) firms will only cooperate if they each adopt a tit-for-tat strategy.
B) firms cooperate and achieve the collusive Nash equilibrium for all rounds.
C) firms cooperate for most of the rounds, but switch to the non-cooperative outcome in the final couple of rounds.
D) firms do not cooperate and the static game Nash equilibrium is the outcome for each round.
D
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Technological advances primarily help a country increase its rate of economic growth ______.
a. through implementation of the Malthusian prediction b. through savings in labor, resources, or capital c. by eliminating the need for human labor d. by being sold to developing foreign countries
Public utilities
A. are primarily regulated natural monopolies. B. are competitive firms. C. experience only insignificant economies of scale in production. D. are seldom regulated.
Union organizing drives will be more successful in firms that have relatively ________ labor demand curves.
A. increasing B. elastic C. linear D. inelastic E. flat
To maximize profit, a pure monopolist must:
A. maximize its total revenue. B. maximize the difference between marginal revenue and marginal cost. C. maximize the difference between total revenue and total cost. D. produce where average total cost is at a minimum.