What Is the Prisoners' Dilemma

question 105

Multiple Choice

What is the prisoners' dilemma?

• A) a game that involves no dominant strategies
• B) a game in which prisoners are stumped because they cannot communicate with each other
• C) a game in which players act in rational, self-interested ways that leave everyone worse off
• D) a game in which players collude to outfox authorities

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Definitions:

Labor Productivity

Total output divided by the quantity of labor employed to produce it; the average product of labor or output per hour of work.

Productivity

A measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used in the production process.

Capital

Financial assets or the financial value of assets, such as cash and goods, used to generate wealth through investment.

Labor

Labor refers to the human effort, both physical and mental, used to produce goods and services.