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What does game theory indicate? group of answers That competitive behavior of firms leads to lower joint profits for the firms in comparison to the
What does game theory indicate? group of answers That competitive behavior of firms leads to lower joint profits for the firms in comparison to the cooperative outcome It is not optimal for a firm to cheat on the other Collusion is a self-enforcing Nash equilibrium
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
9th Edition
978-0132146654, 0132146657, 9780273754091, 978-0273754206
