Rates of substitution are determined by:

If, when a firm doubles all its inputs, its average cost of production increases, then production displays

A) economies of scale. B) diminishing returns. C) diseconomies of scale. D) declining fixed costs.

If one-time gains from defection are always less than the discounted present value of an infinite time stream of cooperative payoffs at some given discount rate, the decision-makers have escaped

a. the Folk Theorem b. the law of large numbers c. the Prisoner's dilemma d. the paradox of large numbers e. the strategy of recusal