The figure below shows the supply and demand curves for jeans in Smallville. Suppose jeans initially sell for $60 per pair. If the price of jeans falls to $40 per pair, then total economic surplus will increase by ______ per day.
A)$160
B)$80
C)$40
D)$20

Question

The figure below shows the supply and demand curves for jeans in Smallville.  Suppose jeans initially sell for $60 per pair. If the price of jeans falls to $40 per pair, then total economic surplus will increase by ______ per day.
A)$160 
B)$80 
C)$40 
D)$20

Quizplus · Accepted Answer

The Answer of The figure below shows the supply and demand curves for jeans in Smallville.  Suppose jeans initially sell for $60 per pair. If the price of jeans falls to $40 per pair, then total economic surplus will increase by ______ per day.
A)$160 
B)$80 
C)$40 
D)$20

The Figure Below Shows the Supply and Demand Curves for Jeans