The table above displays the possible outcomes for Bob and Joe, who have been arrested for armed robbery and car theft. Which of the following is TRUE?
A) If Joe confesses, Bob should not confess.
B) If Bob confesses, Joe should confess.
C) The dominant equilibrium is that Joe and Bob both serve 2 years.
D) If Joe does not confess, Bob should not confess.
Question 2
A single-price monopolist will always produce where the elasticity of demand
A) is greater than 1.
B) is smaller than 1.
C) equals 1.
D) equals infinity.
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