Question 1
Refer to the information provided in Table 14.6 below to answer the question that follows.
Refer to Table 14.6. The result of this game is known as a ________.
◦ prisoners' dilemma
◦ collusive outcome
◦ repeated strategy
◦ tit-for-tat outcome
Question 2
Refer to the information provided in Table 14.6 below to answer the question that follows.
Refer to Table 14.6. The result of this game is a prisoners' dilemma. In which of the following cases is it most likely that the firms will be able to overcome the prisoners' dilemma?
◦ repeated play
◦ a single interaction
◦ when both firms follow a maximin strategy
◦ government intervention
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