Consider Figure 12.5. If player A confesses and player B does not, 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: C
You might also like to view...
Some would cite the purchase of defective products and the rising cost of health care as market failures. Argue that these are not true market failures.
What will be an ideal response?
In order from the most to the least competitive market structure is the perfectly competitive, monopolistically competitive, monopolist and then the oligopolistic market structure
a. True b. False Indicate whether the statement is true or false
In order to make an optimal choice, we must use
A. percentage analysis. B. total analysis. C. average analysis. D. marginal analysis.
The tit-for-tat strategy:
A. makes cooperation unlikely. B. is not possible in single-round games. C. is not effective in repeated games. D. All of these statements are true.