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Author Question: If firms adopt a strategy that triggers a permanent punishment, the result in an indefinitely ... (Read 37 times)

Haya94

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on: Jul 1, 2018
If firms adopt a strategy that triggers a permanent punishment, the result in an indefinitely repeated game is
 
  A) undefined.
  B) the noncooperative Nash equilibrium.
  C) the collusive Nash equilibrium.
  D) economically inefficient.

Question 2

Which of the following instances will total revenue or receipts decline?
 
  A) Price rises and demand is inelastic.
  B) Price falls and demand is elastic.
  C) Price rises and demand is elastic.
  D) Price falls and demand is unit elastic.


daiying98

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


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