<span>Unattainable points are outside the PPF. The PPF refers to the Production Possibilities Frontier. This is set by the economic standing of a country and a country is not able to perform and produce outside of their set PPF. Due to this, all unattainable points are located outside of the PPF. </span>
Answer:
The correct answer is option d.
Explanation:
Prisoner's dilemma game is a game of strategy where the individual rational decisions lead to collective irrationality. When the individual players act in their self-interest they are unable to produce an optimal outcome.
For instance, if two prisoners are captured and both of them confess that the other person has committed the crime to save themselves. Both of them will be convicted. This outcome will not be consistent with any prior agreement and will also cause a loss to both.
So individual rational decision to save oneself will lead to a collective loss of being convicted.
Answer:
Price elasticity of demand
It is always the aim of the government that people take pride with the things that the locals in their land are able to produced. If this is the main aim of the government then, it should be a policy that one should buy the local products first. In line with this, the government may limit the amount of imported goods reaching their area as these imported good may jeopardized the aim to take pride in the local ones.
