Cartels tend not to be long-lived because of ?the Prisoner's Dilemma.
Answer the following statement true (T) or false (F)
True
Rationale: The Prisoner's Dilemma gives them incentives to cheat.
Economics
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Suppose we estimate that the demand elasticity for fine leather jackets is -.7 at their current prices. Then we know that:
a. a 1% increase in price reduces quantity sold by .7%. b. no one wants to buy leather jackets. c. demand for leather jackets is elastic. d. a cut in the prices will increase total revenue. e. leather jackets are luxury items.
Economics
Which of the following is the least liquid asset?
a. checkable deposits. b. savings-type deposits. c. traveler's checks. d. demand deposits. e. cash.
Economics