Solved

Use the Following to Answer Questions

Question 5

Multiple Choice

Use the following to answer questions: Use the following to answer questions:   -(Table: Marginal Benefit, Cost, and Consumer Surplus)  The table Marginal Benefit, Cost, and Consumer Surplus shows six consumers' willingness to pay for one iTunes download. 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
-(Table: Marginal Benefit, Cost, and Consumer Surplus) The table Marginal Benefit, Cost, and Consumer Surplus shows six consumers' willingness to pay for one iTunes download. 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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions