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Use Table: Individual Demand Schedules for Pairs of Socks

Question 51

Multiple Choice

Use Table: Individual Demand Schedules for Pairs of Socks. If the price of a pair of socks falls from $4 to $3, 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 falls from $4 to $3, by how much did Niles's consumer surplus change? ​ A) Niles's consumer surplus increased by $3. B) Niles's consumer surplus increased by $4. C) Niles's consumer surplus increased by $1. D) Niles's consumer surplus did not change.


A) Niles's consumer surplus increased by $3.
B) Niles's consumer surplus increased by $4.
C) Niles's consumer surplus increased by $1.
D) Niles's consumer surplus did not change.

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