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Question

Which of the following is true of game theory?


a. At a Nash equilibrium, all firms have an

incentive to change behavior.

b. A tit-for-tat strategy is a way to reward noncooperation and punish cooperation in a repeated game.

c. Cooperative strategies are equally likely in one-shot and repeated games.

d. Cooperation is more likely to occur in repeated games than in one-shot games.

e. Collusion is an example of a noncooperative game.

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