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Use Table: Individual Demand Schedules for Pairs of Socks

Question 70

Multiple Choice

Use Table: Individual Demand Schedules for Pairs of Socks. If the price of a pair of socks rises from $6 to $7, by how much did total consumer surplus change in the market?
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Use Table: Individual Demand Schedules for Pairs of Socks. If the price of a pair of socks rises from $6 to $7, by how much did total consumer surplus change in the market? ​ A) Consumer surplus did not change. B) Consumer surplus increased by $2. C) Consumer surplus decreased by $1. D) Consumer surplus decreased by $5.


A) Consumer surplus did not change.
B) Consumer surplus increased by $2.
C) Consumer surplus decreased by $1.
D) Consumer surplus decreased by $5.

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