Multiple Choice
-When duopoly games are repeated and a 'tit-for-tat' strategy is used,
A) one firm goes out of business.
B) both firms begin to incur economic losses.
C) the competitive outcome is more likely to be reached than when the game is played once.
D) the monopoly outcome is more likely to be reached than when the game is played once.
E) because the game is repeated it is impossible to predict whether the competitive or the monopoly outcome is more likely.
Correct Answer:
Verified
Related Questions
