Oligopoly is like the prisoners dilemma in that a a firm maximises its profits by producing a
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Oligopoly is like the prisoners’ dilemma in that a a firm maximises its profits by producing a low quantity of output, if the other firms in the oligopoly likewise produce low quantities of output b all firms in a cartel have an incentive to renege on a collusive agreement c it is a dominant strategy for all firms to cooperate d the prisoners’ dilemma does not have a Nash equilibrium
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Related Book For 
![Principles Of Microeconomics [Australia And New Zealand Edition]](https://dsd5zvtm8ll6.cloudfront.net/si.question.images/book_images/672464107669a_18135.jpg)
Principles Of Microeconomics [Australia And New Zealand Edition]
ISBN: 9781337408066
6th Edition
Authors: Joshua Gans, Stephen King, Martin Byford, N. Gregory Mankiw
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