Because many business situations are repeated games, firms may be able to avoid the prisoner's dilemma and implicitly collude to keep prices high

What did the Proclamation of 1763 and the Quebec Act of 1774 represent?

(a) A continuation of earlier British land policies, but these were no longer workable or acceptable to the colonists (b) A temporary change in British land policies, but the change was not workable or acceptable to the colonists (c) A permanent change of earlier British land policies that was not acceptable to the colonists, who wanted a continuation of the old policies (d) The Proclamation was more of a temporary change, but the Quebec Act represented a permanent change of earlier policy, neither of which was acceptable to the colonists

The gains from trade rely on overall productivity (absolute advantage)

Indicate whether the statement is true or false