In a tennis match, one player decides to take performance enhancing drugs regardless of what her opponent intends to do. This is called...

a.The prisoners' dilemma.

b.Collusion.

c.A dominant strategy.

d.A Nash equilibrium.

Countries that trade according to their comparative advantage...

a.Create losers only in the country without the comparative advantage.

b.Create winners and losers where the gains in one country more than offset the losses in that country.

c.Create winners only in the country with the comparative advantage.

d.Result in a zero-sum game where one country's gain is offset by an equal loss by another country.

Consumer equilibrium occurs where...

a.Total utility from each good consumed is equal.

b.Marginal utility on the last unit of each good is equal.

c.Marginal utility per dollar spent on the last unit of each good is equal.

d.Total spending on each good is equal.