What is the prisoners' dilemma?
What will be an ideal response?
The prisoners' dilemma is that while both not confessing might lead to the best outcome for both prisoners' one cannot know what the other is doing so the dominant strategy for each is to confess whether guilty or not.
Economics
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The figure above shows the demand and cost curves for a single-price monopoly. What level of output maximizes the firm's economic profit?
A) 0 units B) 20 units C) 30 units D) 50 units
Economics
Which of the following topics is a macroeconomic subject?
A) a proposed merger between two companies B) the level of sales at a particular department store C) increases in the overall price level of the United States D) the decision of an automobile manufacturer
Economics