Under conditions of perfect competition, if any one buyer increases her purchases, the market price

Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?

a. Do not be forgiving b. Be forgiving c. Punish the competitors severely forever d. All of the above

Economic profit that stems from entrepreneurship reflects

a. market power achieved through the use of public policy that restricts entry into a market. b. the ability of some individuals to recognize and undertake economically beneficial projects that have gone unnoticed by others. c. windfall gains due to unanticipated changes in weather. d. the influence of special interest groups on the market process.