Multiple Choice
Table 7-4
For each of the three potential buyers of apples, the table displays the willingness to pay for Bob, Sasha, and Eric, who are the only three buyers of apples. Assume that only three apples can be supplied per day.
-Refer to Table 7-4. If the market price of an apple increases from $0.80 to $1.05, then consumer surplus
A) increases by $0.75.
B) decreases by $0.95.
C) decreases by $0.75.
D) decreases by $1.00.
Correct Answer:

Verified
Correct Answer:
Verified
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