When Duopoly Games Are Repeated and a "Tit for Tat

question 305

Multiple Choice

When duopoly games are repeated and a "tit for tat" strategy is used,

• A)the competitive outcome is more likely to be reached than when the game is played once.
• B)the monopoly outcome is more likely to be reached than when the game is played once.
• C)both firms begin to incur economic losses.
• D)one firm goes out of business.
• E)Because the game is repeated,it is impossible to predict whether the competitive or the monopoly outcome is more likely.

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