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Repetition of a game (Repeated Game):

A. Yields the same outcome over and over

B. Can result in behavior that is different from what it would be if the game were played once

C. Is not possible

D. Makes cooperative games into noncooperative games

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  1. Economics define technology as:
  2. The greater the percentage of income spent on a commodity:
  3. Elasticity of Substitution (s) is defined as:
  4. Nash equilibrium is applicable in case of:
  5. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  6. The partial equilibrium model keeps other things:
  7. Normal profits are considered as:
  8. The budget constraint equation of the firm is:
  9. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  10. For a few products such as insulin for diabetics,:
  11. In market sharing cartel model, cartel determines the shares of:
  12. In case of perfect competition, TR curve rises at a:
  13. The relationship between AC and MC curves depend upon the behavior of:
  14. The non-price competition cartel is a:
  15. Normally when price per unit of time falls:
  16. Utility means:
  17. In monopoly:
  18. When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there…
  19. The least cost combination of factors x , y and z will generally be the point at which:
  20. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  21. A firm is a sum of persons who convert:
  22. Moving along the indifference curve leaves the consumer:
  23. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  24. Which one of the following is also known as Plant Curves:
  25. When total product falls:
  26. In monopolistic competition, the firm compete on the basis of:
  27. At final equilibrium in cournot model, each firm sells:
  28. The average product is given as:
  29. Production is a function of:
  30. Which of the following is not an explicit cost of production?