This topic contains a solution. Click here to go to the answer

Author Question: A prisoner's dilemma can be described as a situation in which a. a decision maker is uncertain ... (Read 83 times)

CharlieWard

  • Hero Member
  • *****
  • Posts: 578
A prisoner's dilemma can be described as a situation in which
 a. a decision maker is uncertain about the potential punishment for something done in the past
  b. an individual decision maker finds it in his best interest to pursue a course of action that can lead to a less than desirable outcome for the group
  c. producers act so as to avoid maximizing profits because of government retaliation
  d. individual firms seeks to maximize their own profits with no regard for the group
  e. the summation of individual demand curves creates an inelastic demand curve facing the industry

Question 2

When an activity results in the imposition of external costs, markets will produce more than the socially optimal level of that activity.
 a. True
  b. False



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

B

Answer to Question 2

A




CharlieWard

  • Member
  • Posts: 578
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

For a complete list of videos, visit our video library