1. Choose what kind of market best represents the following situations

	Competitive market	Monopoly	Oligopoly
Google and Bing dominate internet search
For traditional cars (e.g., non-electric), there are numerous car companies that sell cars in each category (SUV, compact, sedan, etc.)
For electric vehicles, currently Tesla is really the only producer
In social media, a few companies like Tiktok, Facebook/ Instagram, Twitter and LinkedIn make up the majority of the providers

2. In a prisoners' dilemma-type situation, the optimal outcome is often not reached because

	True	False
The "prisoners" do not know the optimal outcome
Each "prisoner" acts in his own self-interest
The outcome that results from both "prisoners" pursuing their self-interest is worse than if they had collaborated
Collaboration is difficult because they have to trust each other to NOT defect / act in their own self-interest
Defecting / acting in your own self-interest results in the optimal outcome