Improvements in technology shift the per-worker production function downward

If an oligopolistic game is repeatedly played, which of the following can occur?

A) Players can learn ways to cooperate and earn an economic profit. B) The competitive price and output consistently is the final result. C) Firms can learn how to cheat more effectively on the other player. D) One firm will be driven out of business. E) An implicit agreement is reached in which one firm constantly cheats on the cartel and the other firm complies with it.

During which time will fiscal policy be the most effective?

A) normal times B) times of war C) in the middle of expansions D) times of stagflation