When Cost and Demand Are Stable Over Time in an Industry

question 86

Multiple Choice

When cost and demand are stable over time in an industry, repetition of Prisoners' Dilemma situations:

• A) can yield cooperative outcomes because firms can explicitly collude to set prices.
• B) can yield cooperative outcomes even when firms do not explicitly collude to set prices.
• C) will tend to yield noncooperative outcomes.
• D) will always yield noncooperative outcomes.
• E) Cooperative or noncooperative outcomes may occur, but cooperation is harder than when the market is unstable.

---

Definitions:

Lateralized

Refers to the specialization of function in one hemisphere of the brain or the other.

Malnutrition

A condition that results from eating a diet in which nutrients are either not enough or are too much, causing health problems.

Adult Brain's Weight

The average weight of a human adult brain, typically around 1,300 to 1,400 grams.

Federally Funded

Describes programs or projects that receive their financial support from the federal government.