In general, the more parties there are to a negotiation, the more difficult it becomes to successfully reach an agreement with all parties

Refer to Table 14-1. Is there a dominant strategy for Godrickporter and if so, what is it?

A) Yes, Godrickporter should increase its advertising budget. B) Yes, Godrickporter should not change its advertising budget. C) Yes, Godrickporter's dominant strategy is to collude with Star Connections. D) No, its outcome depends on what Star Connections does.

Which of the following is a major shortcoming of government regulation of business monopoly?

a. The regulators often estimate production costs incorrectly and thus force firms into loss positions. b. The regulators often come to represent the interests of the established firms and use their power to limit competition. c. The regulators usually permit firms to make unusually high accounting profits. d. The regulators, acting in consumers' interests, often force prices so low that even with efficient production techniques the regulated firms lose money.