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Author Question: Why are many oligopolistic market outcomes conveniently described by a Prisoners' Dilemma? A) The ... (Read 54 times)

james

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on: Jul 1, 2018
Why are many oligopolistic market outcomes conveniently described by a Prisoners' Dilemma?
 
  A) The firms can always achieve the outcome that maximizes joint outcomes.
  B) The firms could do better than the Nash equilibrium if they collude.
  C) The outcome of a Prisoners' Dilemma is always efficient.
  D) The outcome of a Prisoners' Dilemma is always identical to the perfectly competitive outcome.

Question 2

Refer to Figure 9.7. Before the policy was implemented, producer surplus was
 
  A) 30.
  B) 60.
  C) 45,000.
  D) 90,000.
  E) 180,000.


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aliotak

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


james

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

alexanderhamilton

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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