Use the figure below to answer the following question.

Figure 2.1.6
-Which of the following is true regarding marginal benefit?
I.The marginal benefit curve shows the benefit firms receive by producing another
Unit of a good.
II.Marginal benefit increases as more and more of a good is consumed.
III.Marginal benefit is the maximum amount a person is willing to pay to
Obtain one more unit of a good.
A)I only
B)I and II
C)I and III
D)III only
E)I, II, and III

Question

Use the figure below to answer the following question.
  
Figure 2.1.6
-Which of the following is true regarding marginal benefit?
I.The marginal benefit curve shows the benefit firms receive by producing another
Unit of a good.
II.Marginal benefit increases as more and more of a good is consumed.
III.Marginal benefit is the maximum amount a person is willing to pay to
Obtain one more unit of a good.
A)I only 
B)I and II 
C)I and III 
D)III only 
E)I, II, and III

Quizplus · Accepted Answer

Marginal benefit is the maximum amount a person is willing to pay to obtain one more unit of a good, not the benefit firms receive by producing another unit or something that increases with more consumption.

Use the Figure Below to Answer the Following Question