Use the Following to Answer Question

question 34

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)$0;four;$12
• B)$3;four;$22
• C)$13;five;$30
• D)$20;six;$37

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Definitions:

Contingent Statement

In the Logic of Statements means a grammatically correct expression that turns out to be true under at least one possible assignment of truth values to its component simple statements and false under another possible assignment of truth values to its component simple statements.

Truth Values

The attribution of truth or falsity to propositions or statements, which in classical logic are typically denoted as true or false.

Translation

The process of translating words or text from one language into another.

Declarative Logic

A branch of logic concerned with statements that declare facts about the world, which can be either true or false.