Use the Following to Answer Question

question 165

Multiple Choice

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 _____,then _____ consumers will purchase this good,and consumer surplus is _____.

• A)$6;three;$13
• B)$3.50;four;$20
• C)$11;two;$22
• D)$40;zero;-$37

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Definitions:

SPIN Approach

A sales technique that involves asking Situation, Problem, Implication, and Need-payoff questions to understand a customer's needs and propose solutions.

Prospect's Approval

The process by which a potential buyer signals their agreement or interest in moving forward with a purchase.

Remain Silent

The act of refraining from speaking, often strategically used in negotiations or to prompt another to speak.

SPIN Approach

A selling technique based on Situation, Problem, Implication, and Need-payoff questions to understand customer needs and propose solutions.