Why is the prisoner’s dilemma game useful in studying oligopoly behavi
Why is the prisoner’s dilemma game useful in studying oligopoly behavior?
A) Because oligopolies make out like bandits.
B) To illustrate the problems encountered when making decisions under uncertainty.
C) To show that oligopolies behave as monopolists in the long run and earn positive economic profits.
D) To illustrate how barriers to entry lead to economic profits.
ANSWER
B
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