Use the following to answer question:
-(Table: Marginal Benefit,Cost,and Consumer Surplus)Use Table: Marginal Benefit,Cost,and Consumer Surplus.The table 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

Question

Use the following to answer question: 
-(Table: Marginal Benefit,Cost,and Consumer Surplus)Use Table: Marginal Benefit,Cost,and Consumer Surplus.The table 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

Quizplus · Accepted Answer

At a marginal social cost of $0, the efficient price is $0, maximizing consumer surplus. Consumer surplus is the total area above the price and below the demand curve, which sums to $37 in this scenario.

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