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Answer the following questions: How can the rules of the game reduce uncertainty? Do rules of the game promote or prevent opportunism? Compare the pros

Answer the following questions:

  1. How can the "rules of the game" reduce uncertainty? Do "rules of the game" promote or prevent opportunism?
  2. Compare the pros and cons of expanding into a democratic and a totalitarian country.
  3. Why is it important to understand formal institutions before entering a country? Explain by using an example.

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