The Political Scientist Robert Axelrod Once Held a Computer Tournament

question 42

Multiple Choice

The political scientist Robert Axelrod once held a computer tournament designed to determine the most successful strategy for approaching the prisoner's dilemma (the strategy that would win out most often on a sustained basis) . What he found was that the most successful strategy was loosely based on a pattern of ____.

• A)cooperating first and then shifting into competing
• B)constant cooperation
• C)reciprocity
• D)competing first and then shifting into cooperating

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Definitions:

Variable Costs

Expenses that fluctuate in direct proportion to the level of output or production activity.

Stock Purchase

The action of buying shares in a company, which represents a portion of ownership in that corporation.

Government Regulations

Rules established by government aimed at influencing economic activity and protecting consumers, workers, and the environment.

Marginal Cost

The extra expense incurred for making an additional unit of a product, emphasizing its role in decision-making processes for production levels.