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17. *Table: Oil Output* Iran National Oil (profit in millions) Restrict Oil Output Expand Oil Output Iraq National Oil Restrict Oil Output $78, $78 $60,

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17. *Table: Oil Output* Iran National Oil (profit in millions) Restrict Oil Output Expand Oil Output Iraq National Oil Restrict Oil Output $78, $78 $60, $89 (profit in millions) Expand Oil Output $89, $60 $65, $65 a. (Table: Oil Output) Refer to the table. If both countries abide by the cartel agreement (i.e., not cheat) what is the profit for each firm? b. (Table: Oil Output) Refer to the table. The situation between Iraq and Iran is similar to a A) calibration cramp. B) prisoner's dilemma. C) flippant switch. D) cooperative equilibrium. c. (Table: Oil Output) Refer to the table. The Nash equilibrium outcome is

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