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Give the correct answer and provide detailed explanation?? Don't copy from internet. Consider the graph of demand for tea cups below. Use the graph to
Give the correct answer and provide detailed explanation?? Don't copy from internet.
Consider the graph of demand for tea cups below. Use the graph to answer Questions 15-16. Demand 2 3 5 6 7 8 9 10 Q 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 $4Step by Step Solution
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