Consider the Cartel of Trick and Gear

question 54

Multiple Choice

Consider the cartel of Trick and Gear.The game is repeated indefinitely and each firm employs a tit-for-tat strategy.The equilibrium is

• A)both firms cheat on the agreement.
• B)both firms comply with the agreement.
• C)Trick cheats and Gear complies with the agreement.
• D)Gear cheats and Trick complies with the agreement.
• E)unknown.

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Definitions:

House District

A defined geographic area represented by a member in the lower chamber of a legislative body, particularly in the context of the U.S. House of Representatives.

Incumbents Won Reelection

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Sociological Representation

Sociological representation refers to elected officials representing the demographic characteristics or interests of their constituents, such as race, gender, or economic status.

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