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Which of the following is an ex of the prisoners' dilemma?

1. Firms in an industry increase their advertising expenditures, causing profits to rise.

2. A country provides subsidies to high technology firms which are consequently able to increase market share.

3. Members of a commodity cartel produce excess output, driving down market price

4. All of the abovee

Microeconomics, Economics

  • Category:- Microeconomics
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