Dilemma leads to a noncooperative equilibrium

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Reference no: EM131161184

1. A prisoners dilemma leads to a noncooperative equilibrium (true/false)

2. A natural monopoly is characterized by large fixed costs relative to variable costs (true/false)

3. In a sequential game, one firm will act first and then other firms will respond (true/false)

4. The market price of a factor of production that is in fixed is determined only by demand (true/false)

Reference no: EM131161184

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