In the prisoner's dilemma:
a. the outcome obtained when both confess is worse for each than the outcome they would have obtained had they both remained silent.
b. whatever the other does, each is better off confessing than remaining silent

The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 8, then the firm

A) is earning positive profits. B) should produce 50 units. C) should shut down. D) None of above.

The efficient markets hypothesis implies

a. that all stocks are fairly valued all the time and that no stock is a better buy than any other. b. that all stocks are fairly valued all the time, but that some stocks may be better buys than other. c. that some stocks may be better buys than others and stock experts can determine which ones. d. that no stock is efficiently valued.