How did the 1971 law that banned cigarette advertising

Reference no: EM13755482

How did the 1971 law that banned cigarette advertising on television solve the prisoners' dilemma for cigarette producers?

Explain first the prisoners' dilemma for cigarette producers before 1971 law. replace Low Price with Advertise, and High Price with Don't Advertise. You would see this is similar to the prisoners' dilemma.

Reference no: EM13755482

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