Mod 65-Practice Quiz (2)
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1. Each player has an incentive to choose an action that, when both players choose it, makes them both worse off. This situation describes *
1 point
2. Which of the following types of oligopoly behavior is/are illegal?  I. tacit collusion II. cartel formation III. tit for tat *
1 point
3. A situation in which each player in a game chooses the action that maximizes his or her payoff, given the actions of the other players, ignoring the effects of his or her action on the payoffs received by others, is known as a: *
1 point
4. Based on the payoff matrix provided, You will *
1 point
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5. Which of the following is true on the basis of the payoff matrix provided ? *
1 point
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6. If you market and your competitor decides not to market your profit will be. *
1 point
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TRUE OR FALSE: I read Module 65 before this class period.
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