In the prisoner's dilemma, both players have an incentive to cheat, even though they would both be better off if they both cooperated.
a. true
b. false
Answer: a. true
Economics
You might also like to view...
Provide some real-world examples of price discrimination in action
What will be an ideal response?
Economics
A decline in the price of a bond causes the yield of the bond to
A) rise. B) fall. C) remain unchanged. D) rise if it's a short-term bond, fall if it's a long-term bond.
Economics
Which firm in an industry is likely to have higher profits?
a. Sellers with higher costs than their competitors b. Sellers with lower costs than their competitors c. Sellers with the same costs as their competitors d. All of the above
Economics
Which of the following is not considered a renewable resource?
A. Fish in the ocean B. Sunlight C. Wind D. All of these are renewable resources.
Economics