Which political philosophy argues that the government should choose policies to maximize the total utility of everyone in society?

The no-trade equilibrium in a perfectly competitive market occurs where:

a. marginal revenue = price. b. marginal cost = total revenue. c. market quantity demanded = market quantity supplied. d. average revenue = price.

Which of the diagrams best portrays the effects of a substantial reduction in government spending?

Use the following diagrams for the U.S. economy to answer the following question.
A.  A.
B.  B.
C.  C.
D.  D.