This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why can't two firms in a Prisoners' Dilemma enforce a better outcome that has higher payoffs? A) ... (Read 153 times)

charchew

  • Hero Member
  • *****
  • Posts: 579
on: Jul 1, 2018
Why can't two firms in a Prisoners' Dilemma enforce a better outcome that has higher payoffs?
 
  A) Under an outcome with higher payoffs, the outcome is not a Nash equilibrium and each firm has an incentive to change their actions.
  B) Barriers to entry
  C) Barriers to exit
  D) The Nash equilibrium in a Prisoners' Dilemma has the highest possible payoffs for both firms.

Question 2

Refer to Figure 9.7. After the policy was implemented, the quantity traded became
 
  A) 1000.
  B) 2000.
  C) 3000.
  D) 4000.
  E) between 2000 and 4000, but the amount depends upon producers' reactions, which are uncertain.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aprice35067

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


charchew

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jul 1, 2018
Thank you :)


aprice35067

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Septa divide hyphae of higher fungi into compartments. Septa divide hyphae of higher fungi into compartments.
Potency and efficacy: (a) Drug A has a higher potency than drug B. (b) Drug A has a higher efficacy ... Potency and efficacy: (a) Drug A has a higher potency than drug B. (b) Drug A has a higher efficacy ...
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
Gradient Flow:Upper air moving from areas of higher pressure to areas of lower pressure undergo ... Gradient Flow:Upper air moving from areas of higher pressure to areas of lower pressure undergo ...
The limbic system is located within the higher brain, or cerebrum. The limbic system is located within the higher brain, or cerebrum.
Higher-Order Conditioning Higher-Order Conditioning
Video: Embryonic development - week 1 and 2

For a complete list of videos, visit our video library