Explain How an Oligopoly Can Be Thought of as a Prisoner's

question 59

Essay

Explain how an oligopoly can be thought of as a prisoner's dilemma game.

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Definitions:

Primary Line Voltage

The voltage applied to the primary winding of a transformer or the initial voltage in a power distribution line before any step up or step down transformations.

Secondary Line Voltage

The voltage present in the output (secondary) side of a transformative device, typically less than the input (primary) voltage.

Turns Ratio

The ratio of the number of turns in the primary winding to the number of turns in the secondary winding of a transformer.

Primary Line Current

The electric current flowing through the primary winding or circuit of a transformer or other electrical device.