A prisoner's dilemma is a situation in which a. a change in ...

[AEWBW]

A prisoner's dilemma is a situation in which
 a. a change in marginal cost may not lead to a change in price
  b. a firm's competitors follow a price increase but ignore a price decrease
  c. oligopolists behave irrationally
  d. oligopolists attempt to maximize sales rather than profits
  e. an oligopolists demand curve may become perfectly inelastic

Question 2

Private property rights are easily assigned to open-access resources.
 a. True
  b. False

[b614102004]

Answer to Question 1

A

Answer to Question 2

B