The Problems with the U

question 33

True/False

The problems with the U.S. criminal justice system are around the edges and in its application, not at its core.

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Definitions:

Equilibrium

A state in which all forces or influences are balanced, such as in a market when supply equals demand.

Dominant Strategy

In game theory, an approach that remains optimal for a participant, no matter what tactics are adopted by the others.

Entry-Deterring Price

A strategy involving setting prices low enough to prevent new competitors from entering the market.

Payoff Matrix

A table that displays the potential outcomes and associated payoffs for each player in a game, given the different strategies each player can choose.