In a game that can be repeated, the optimal solution is a. ...

[Lobcity]

In a game that can be repeated, the optimal solution is
 a. dependent upon each firm's decision in the first round of decision making
  b. independent of the decisions that competitive firms made on the first round
  c. to maximize profits regardless of what competitors do
  d. to minimize costs regardless of what competitors do
  e. to select the solution that minimizes the potential losses from a decision

Question 2

Fish are
 a. always renewable resources
  b. renewable resources whenever property rights are well defined
  c. renewable resources if they are taken and replaced at rates that provide a steady supply
  d. renewable resources only if they are replaced at a rate that exceeds the rate at which they are caught
  e. renewable resources whenever property rights are well defined and can be easily enforced

[shayla]

Answer to Question 1

A

Answer to Question 2

C