Refer to Figure 9.3. If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit is

Jen considers smoking an inferior good. In other words, for Jen to quit smoking, she would require a significant increase in income

a. True b. False Indicate whether the statement is true or false

If the price of chicken rises from $1.25 per pound to $1.75 per pound, if the demand curve is consistent with the law of demand, then the quantity of chicken demanded would be predicted to go from 

A. 100 pounds to 125 pounds per day. B. 100 pounds to 75 pounds per day. C. 100 pounds to 100 pounds per day, because the price of chicken does not affect the quantity demanded. D. 100 pounds to 0 pounds per day, because consumers would stop purchasing chicken at a price above $1.25 per pound.