A very high fixed cost and a relatively low marginal cost is associated with

A government-imposed price floor in the tobacco market will raise the value of land used to grow tobacco

Indicate whether the statement is true or false

Which of the following statements is (are) true of the prisoners' dilemma? (i) Rational self-interest leads neither party to confess. (ii) Cooperation between the prisoners is difficult to maintain. (iii) Cooperation between the prisoners is individually rational

a. (ii) only b. (ii) and (iii) c. (i) and (iii) d. (i), (ii), and (iii)