Marginal benefit is the benefit

Question

Quizplus · Accepted Answer

Marginal benefit is the additional benefit obtained from consuming one more unit of a particular good or service. It is the difference between the total benefit of consuming n units of the good or service and the total benefit of consuming n-1 units of the good or service. It is important to note that marginal benefits decrease as the quantity consumed increases, since each additional unit provides less additional benefit than the previous unit.

Marginal Benefit Is the Benefit