QUESTION 17 1. For quesitons 17 - 21, use the Resource Sheet you downloaded from

Question

QUESTION 17

1.       For quesitons 17 - 21, use the Resource Sheet you downloaded from the ASSIGNMENTS section. The mutually beneficial strategy would be indicated by cell:

A.

A

B.

B

C.

C

D.

D

QUESTION 18

1.       The outcome that would be best for Acme Widget Corporation would be cell:

A.

A

B.

B

C.

C

D.

D

QUESTION 19

1.       The equilibrium outcome for this non-collusive industry would be cell:

A.

A

B.

B

C.

C

D.

D

QUESTION 20

1.       This game is known as:

A.

Unresolvable Paradox

B.

Prisoner's Dilemma

C.

Competitive Equilibrium

D.

Jacob's Ladder

QUESTION 21

1.       The equilibrium outcome of this game would motivate these firms to collude.

True

False

A.

A

B.

B

C.

C

D.

D

Explanation / Answer

Answer 17

Option A as it is beneficial for both the companies.

Answer 18

Option B as in this situation, Acme would get $ 1200 as profit

Answer 19

Option A as it is a safer option for both the companies

Answer 20

Option C as it is a competitive equilibrium.

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