What does the prisoner’s dilemma teach us about the behavior of oligopolists? Group of answer choices 1-It is a scenario that teaches us that the gains from cooperation are larger than the rewards from pursuing self-interest. 2-It teaches us that the oligopoly market structure always leads to poor business results. 3-It teaches us that oligopolists typically get better business results when they pursue their own self-interests. 4-It teaches us that oligopolists make random decisions about business decisions that could land them in jail.
What does the prisoner’s dilemma teach us about the behavior of oligopolists? Group of answer choices 1-It is a scenario that teaches us that the gains from cooperation are larger than the rewards from pursuing self-interest. 2-It teaches us that the oligopoly market structure always leads to poor business results. 3-It teaches us that oligopolists typically get better business results when they pursue their own self-interests. 4-It teaches us that oligopolists make random decisions about business decisions that could land them in jail.
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Oligopoly
Section17.2: The Economics Of Cooperation
Problem 2QQ
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What does the prisoner’s dilemma teach us about the behavior of oligopolists?
Group of answer choices
1-It is a scenario that teaches us that the gains from cooperation are larger than the rewards from pursuing self-interest.
2-It teaches us that the oligopoly market structure always leads to poor business results.
3-It teaches us that oligopolists typically get better business results when they pursue their own self-interests.
4-It teaches us that oligopolists make random decisions about business decisions that could land them in jail.
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