Multiple Choice
The prisoners' dilemma is used to illustrate the basic idea that
A) oligopolistic firms would be better off if they collude, but each has an incentive to cheat on the collusive agreement.
B) oligopolistic firms are always worse off when they collude.
C) oligopolistic firms never have an incentive to cheat on collusive agreements, unlike prisoners.
D) students who cheat on economics exams end up in jail.
Correct Answer:
Verified
Correct Answer:
Verified
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