Refer to Figure 15-17. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor?

The consumer maximizes his total utility (measured in money terms) when, at his chosen quantity of every good he buys, marginal utility

a. equals zero. b. divided by price equals zero. c. equals price. d. equals total utility.

The national defense argument for trade protectionism holds that

A) what is good for business is good for the country. B) what is good for consumers is good for the country. C) consumers' surplus rises by more than producers' surplus falls. D) producers' surplus rises by more than consumers' surplus falls. E) none of the above