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单项选择题

Consider an agreement between France and Germany that will restrict steel production so that maximum economic profit can be realized. The possible outcomes of the agreement are presented in the table below.
Germany complies Germany defaults
France complies France gets 34 billion. France gets 14 billion.
Germany gets 33 billion. Germany gets 45 billion.
France defaults France gets 43 billion. France gets 17 billion.
Germany gets 6 billion. Germany gets 18 billion.
Based on the game theory framework, the most likely strategy followed by the two countries with respect to whether they comply with or default on the agreement will be:

A. both countries will default.
B. both countries will comply.
C. one country will default and the other will comply.
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单项选择题Which of the following statements provides the best description of Nash equilibrium of two firms in the game of prisoners’ dilemma

A. One firm complies and the other cheats.
B. Both firms cheat and each firm makes zero economic profit.
C. Both firms comply and each firms makes a positive economic profit.

单项选择题Consider a firm in an oligopoly market that believes that the demand curve for its product is more elastic above a certain price than below this price. This belief fits most closely to which of the following models

A. Dominant firm model.
B. Kinked demand model.
C. Variable elasticity model.