Which of the following is likely to occur when a two-person game ...

[asmith134]

Which of the following is likely to occur when a two-person game can be played repeatedly?
 a. Collusion and cooperation among the players
  b. The prisoner's dilemma
  c. The industry demand curve will become perfectly elastic
  d. The industry demand curve will become perfectly inelastic
  e. There is no solution possible because of the indeterminate price quantity combinations

Question 2

When consumption of a good or service produces benefits or costs that are not reflected in the market price for the good, this is known as a(n)
 a. externality
  b. common pool problem
  c. nonexcludable resource
  d. public good
  e. renewable resource

[katheyjon]

Answer to Question 1

A

Answer to Question 2

A

[asmith134]

Thank you

[katheyjon]

No problemo