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Use Table: Individual Demand Schedules for Pairs of Socks

Question 75

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 Niles's consumer surplus change?
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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 Niles's consumer surplus change? ​ A) Niles's consumer surplus did not change. B) Niles's consumer surplus increased by $2. C) Niles's consumer surplus decreased by $1. D) Niles's consumer surplus decreased by $2.


A) Niles's consumer surplus did not change.
B) Niles's consumer surplus increased by $2.
C) Niles's consumer surplus decreased by $1.
D) Niles's consumer surplus decreased by $2.

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