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2 1 D 10 20 30 40° 50 60 Quantity If the price of the good increases from $3 to $4, consumer surplus will decrease by: a. $15 b. $25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Price
$6
5
4
3
2
1
D
10
20
30
40
50
60
Quantity
If the price of the good increases from $3 to $4, consumer surplus will decrease by:
a. $15
b. $25
c. $20
d. $5
X e. $10

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