Table 7-1
For each of three potential buyers of apples,the table displays the willingness to pay for the first three apples of the day.Assume Xavier,Yadier,and Zavi are the only three buyers of apples,and only three apples can be supplied per day.

-Refer to Table 7-1.If the market price of an apple increases from $1.40 to $1.60,then consumer surplus
A) decreases by $0.15.
B) decreases by $0.30.
C) decreases by $0.45.
D) increases by $0.15.

Question

Table 7-1
For each of three potential buyers of apples,the table displays the willingness to pay for the first three apples of the day.Assume Xavier,Yadier,and Zavi are the only three buyers of apples,and only three apples can be supplied per day.
 
-Refer to Table 7-1.If the market price of an apple increases from $1.40 to $1.60,then consumer surplus
A) decreases by $0.15. 
B) decreases by $0.30. 
C) decreases by $0.45. 
D) increases by $0.15.

Quizplus · Accepted Answer

The Answer of Table 7-1
For each of three potential buyers of apples,the table displays the willingness to pay for the first three apples of the day.Assume Xavier,Yadier,and Zavi are the only three buyers of apples,and only three apples can be supplied per day.
 
-Refer to Table 7-1.If the market price of an apple increases from $1.40 to $1.60,then consumer surplus
A) decreases by $0.15. 
B) decreases by $0.30. 
C) decreases by $0.45. 
D) increases by $0.15.

Table 7-1 For Each of Three Potential Buyers of Apples,the Table Displays