In the prisoner's dilemma setting for producing and stealing, a tax imposed on participants could end up changing the payoff matrix so that
A) one participant is better off, and one participant is worse off.
B) both participants are worse off.
C) both participants are better off.
D) all of the above are possible
D
Economics
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Junk bonds, bonds with a low bond rating, are also known as
A) high-yield bonds. B) investment grade bonds. C) high quality bonds. D) zero-coupon bonds.
Economics
Total wages paid to labor are maximized when workers are hired up to the point where the
A. Marginal wage equals zero. B. Market wage equals the marginal factor cost. C. Demand for labor equals the marginal factor cost. D. Marginal wage is equal to the market wage.
Economics