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1) T/F/U (4 pts): If Jack Daniels whiskey sells for $10 a bottle and if 1,000 bottles were sold last year, then the total value

1)T/F/U(4 pts): If Jack Daniels whiskey sells for $10 a bottle and if 1,000 bottles were sold last year, then the total value of those bottles to consumers was $10,000. Use a picture to help answer (and it would be good to mention the concept of consumer surplus).

2)T/F/U(4 points): Consumers by 1,000 heads of lettuce per week, and if the price of lettuce falls by 10 per head, then the consumer's surplus will increase by $100. (And a picture please.)

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