In the figure above, what is the consumer surplus per day?

To determine the price elasticity of demand, we

A) need information on consumers' incomes. B) need to know how much is available. C) compare the percentage change in the quantity demanded to the percentage change in the price. D) compare the change in the quantity to the change in price. E) divide the quantity by the price.

The simple model of competition among political parties long used by political scientists tends to lead to the practical solution of selecting the

A) optimal tariff. B) prohibitive tariff. C) zero (free-trade) tariff. D) the tariff rate favored by the median voter. E) the tariff rate supported by exporters.