What is the outcome, Suppose Sue and Joe agreed to collude

What is the outcome

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Reference no: EM131104137

Suppose Sue and Joe agreed to collude and jointly maximize their profits. If Sue and Joe were to be able to repeatedly play the game shown earlier and they agreed on a penalty for defecting from their agreement, what is the likely outcome of the

a. Both are open for many hours.

b. Both are open for a few hours.

c. Sue is open for many hours while Joe is open for few hours.

d. Sue is open for few hours while Joe is open for many hours.

Reference no: EM131104137

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