Lets say a medicine costs about $.50 per pill. Each year, there are 5 million of these pills sold.

Lets say a salt packet costs about $.30 per packet. Each year, 5 million of these packets are sold.

Demand of the packet is more elastic than demand is for the medicine.

1. Is the dollar value to the consume of the 5 millionth pill the same, higher, or less than the dollar value to the client of the 5 millionth packet? Explain
2. Is the consumer surplus of the medicine market higher, lower, or the same as the salt packet market? Explain