Since the specification of a poverty standard is an imprecise endeavor, it is a useless exercise

The dominant-strategy solution implies that each firm

a. ignores the reactions of competitors b. colludes with competitors to maximize industry profits c. ignores the decisions of the other firms d. takes all potential bits of information into consideration before making a decision e. selects the optimal solution to a game

An example of the "Tragedy of the Commons" is litter in the picnic area of a local park

a. True b. False Indicate whether the statement is true or false