Author Question: Which of the following is likely to occur when it is known that a two-person game is to be played ... (Read 77 times)

JMatthes · **on:** Jun 30, 2018

Which of the following is likely to occur when it is known that a two-person game is to be played only once?
a. Collusion
b. The demand curve becomes perfectly inelastic for this time period
c. The prisoner's dilemma
d. The pursuit of profit maximization for the entire industry
e. An attempt to equate marginal revenue with marginal cost

Question 2

A study found that privately-operated juvenile correction facilities in Florida had __________ costs but experienced __________ rates of recidivism than state-operated juvenile corrections facilities.
a. lower, higher
b. lower, lower
c. higher, equivalent
d. higher, lower
e. lower, equivalent