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Consider the graph of demand for tea cups below. Use the graph to answer Questions 15-16. 15. What are the respective values of the total
Consider the graph of demand for tea cups below. Use the graph to answer Questions 15-16. 15. What are the respective values of the total benefit and the consumer surplus when the price is $8 per unit? (a) $16; $2 (b) $16; $16 (C) $18; $2 (d) $18; $16 16. When the price decreases from $8 to $6, by how much does consumer surplus change? (a) Consumer surplus increases by $6 (b) Consumer surplus decreases by $6 (c) Consumer surplus increases by $4 (d) Consumer surplus decreases by $4
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