Refer to above figure. In the absence of a tariff and in the presence of trade, what is the country's consumer surplus?

What is a basic principle of the law of demand?

a. The higher the price, the more people will want the good. b. Everyone has a limited income that they will spend. c. When a good's price is lower, people will buy more of it. d. Services are of interest in the same way that goods are.

If we use the numbers in the above table to draw a graph, with the price on the vertical axis and the quantity on the horizontal axis, the line relating price and quantity has a slope of

A) 0.8. B) -8.0. C) -1.25. D) 8.0.