Multiple Choice
(Table: Marginal Benefit, Cost, and Consumer Surplus) The table Marginal Benefit, Cost, and Consumer Surplus shows six consumers' willingness to pay (his or her individual marginal benefit) for one iTunes download of a Jack Johnson song.If the marginal social cost is constant at $0, then the efficient price is ________ and consumer surplus is _.
A) $0; $37
B) $1; $36
C) $4; $33
D) $5; $32
Correct Answer:

Verified
Correct Answer:
Verified
Q131: Stephanie stops at a gas station to
Q132: Figure: Market Failure <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt="Figure: Market
Q133: Two students, Nikos and Camila, are working
Q134: Pay-per-view movies are an example of a
Q135: For a public good, the marginal social
Q137: Figure: Market Failure <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt="Figure: Market
Q139: Figure: Correcting for Market Failure <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg"
Q140: (Table: Marginal Benefit, Cost, and Consumer Surplus)
Q141: Common resources tend to be overused because:<br>A)individuals
Q190: Which of the following is an example