Use Table: Individual Demand Schedules for Pairs of Socks. If the price of a pair of socks rises from $5 to $6, 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.

Question

Use Table: Individual Demand Schedules for Pairs of Socks. If the price of a pair of socks rises from $5 to $6, 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.

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 $5 to $6, 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.