Figure 8-11 -Refer to Figure 8-11.The Price Labeled as P₂ on the as P₂

Multiple Choice

Figure 8-11

-Refer to Figure 8-11.The price labeled as P₂ on the vertical axis represents the

A) difference between the price paid by buyers after the tax is imposed and the price paid by buyers before the tax is imposed.
B) difference between the price received by sellers before the tax is imposed and the price received by sellers after the tax is imposed.
C) price of the good before the tax is imposed.
D) price of the good after the tax is imposed.