The graph shown demonstrates a tax on sellers. Before the tax was imposed, the buyers purchased ________ units and paid ________ for each one.

Refer to Figure 4-3. If the market price is $2.50, what is the consumer surplus on the first ice cream cone?

A) $0.50 B) $1.00 C) $3.50 D) $9.00

In behavioral economics, salience is best exemplified by

A) consumers responding differently when posted prices increase rather than when prices increase because of sales tax increases. B) consumers responding the same regardless of how prices change. C) the end of a controlled experiment. D) consumers responding differently when income increases permanently rather than temporarily.