Table 7-5 For Each of Three Potential Buyers of Oranges, the Table

question 545

Multiple Choice

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
-Refer to Table 7-5. If the market price of an orange increases from $0.70 to $1.40, then consumer surplus

• A)increases by $2.60.
• B)decreases by $0.70.
• C)decreases by $2.50.
• D)decreases by $2.60.

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