Please explain the answer in full detail and show any necessary mathematical steps to arrive at the answer! Thank you.

(Table: Market for Oil) Suppose that oil is produced by 10 countries, each of which produces 10 million barrels of oil a day (MBD) for a total of 100 MBD. The world price of oil at this quantity is $36 per barrel, so each country earns $360 million a day. __ 37.50 _1i Refer to the table. Suppose that these countries form a cartel and each country produces 8 MBD. If one of the cartel members cheats by secretly pushing its production back to 10 MBD rather than 8, total revenue for the cheating country would: increase from $360 million to $500 million a day. remain unchanged at $400 million a day. 9 increase from $400 million to $475 million a day. decrease from $380 million to $360 million a day