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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.