The marginal benefit of a good increases as its price decreases.

Question

Quizplus · Accepted Answer

The marginal benefit of a good refers to the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service. It is not directly affected by the price of the good but by the quantity consumed. Price changes can influence demand, but the marginal benefit itself is more about the value or utility derived from consumption rather than the price.

The Marginal Benefit of a Good Increases as Its Price