A game in which each player has a dominant strategy of defecting, and each ends up worse off than if they had both cooperated is called

A) a pure coordination game.
B) a prisoner's dilemma game.
C) an assurance game.
D) a battle of the sexes game.

B

Economics

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Surveys of consumers regarding labor standards reveal that they:

a. treat potential losses and potential gains equally. b. weigh potential losses more than potential gains. c. weigh potential losses less than potential gains. d. do not experience losses in gains.

Economics

Which of the following statements regarding accounting and economic profits is FALSE?

A) Economic profits can be zero even if accounting profits are positive. B) Economic profits = total revenue - (explicit + implicit costs) C) Accounting profits can be negative if economic profits are positive. D) Accounting profits = total revenue - explicit costs

Economics