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Question
A tit-for-tat strategy is one in which oligopolies
A) cooperate as long as other members cooperate, but if anyone cheats, they cut the price until the cheater reverts to cooperation.
B) cooperate almost all of the time, but occasionally do not cooperate in order to fool the antitrust authorities.
C) keep cutting prices to punish rivals until the competitive price is reached.
D) try to avoid the problems of the prisonersʹ dilemma, but actually make themselves worse off.
Answer
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