Why are many oligopolistic market outcomes conveniently described ...

[james]

Why are many oligopolistic market outcomes conveniently described by a Prisoners' Dilemma?
 
  A) The firms can always achieve the outcome that maximizes joint outcomes.
  B) The firms could do better than the Nash equilibrium if they collude.
  C) The outcome of a Prisoners' Dilemma is always efficient.
  D) The outcome of a Prisoners' Dilemma is always identical to the perfectly competitive outcome.

Question 2

Refer to Figure 9.7. Before the policy was implemented, producer surplus was
 
  A) 30.
  B) 60.
  C) 45,000.
  D) 90,000.
  E) 180,000.

[aliotak]

Answer to Question 1

B

Answer to Question 2

C

[james]

YES! Correct, THANKS for helping me on my review

[sultana.d]

Thanks for the timely response, appreciate it