In a Prisoner's Dilemma Situation

question 15

Multiple Choice

In a prisoner's dilemma situation

• A) both actors are concerned with relative gains.
• B) both actors are better off if they mutually cooperate than if they mutually defect.
• C) both actors prefer to cooperate.
• D) cooperation is not possible.

---

Definitions:

Express Contract

A legally binding agreement where the terms are clearly stated either verbally or in writing by the parties involved.

Fee Simple Absolute

The most complete ownership in property, unlimited in duration, inheritable, and without conditions or obligations.

Ownership Rights

Legal rights that confer the ability to use, control, and dispose of property or assets.

Fixed-Term Tenancy

A lease agreement for a property that is set for a specific period of time, at the end of which, the agreement either ends or must be renewed.