A Prisoner's Dilemma Can Be Described as a Situation in Which

question 109

Multiple Choice

A prisoner's dilemma can be described as a situation in which

• A)a decision maker is uncertain about the potential punishment for something done in the past
• B)an individual decision maker finds it in his best interest to pursue a course of action that can lead to a less than desirable outcome for the group
• C)producers act so as to avoid maximizing profits because of government retaliation
• D)individual firms seeks to maximize their own profits with no regard for the group
• E)the summation of individual demand curves creates an inelastic demand curve facing the industry

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Definitions:

Number Expressed

A specific value presented in numerical form.

Thousandths

A decimal place three places to the right of the decimal point, representing parts of a thousand.

Number Expressed

A way of representing a quantity or value in terms of digits or symbols.

Thousandths

A fractional part in a series, representing one part out of a thousand.