The tit-for-tat strategy only works for a prisoner's dilemma that:

If an economy is operating at short-run equilibrium below the level of real GDP, the self-correction model result is that: a. unemployment increases

b. unemployment falls. c. cyclical unemployment increases. d. frictional and structural unemployment increase.

Vertical integration can reduce transaction costs through all of the following ways except which one?

A) decreasing the incentive for litigation B) creating managerial diseconomies C) establishing a partnership between the two firms D) increasing information and control