Using Game Theory as an Analytical Tool, If One Large

question 53

Multiple Choice

Using game theory as an analytical tool, if one large nation imposes tariffs, the total cost is small; however, when several trading partners do the same:

• A) the costs are even smaller.
• B) the costs balance out and there is no harm.
• C) the costs are the same but the potential gains are much smaller.
• D) then all nations gain.

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