The marginal benefit from a good is the amount a person is willing to pay for
A) all of the good the person consumes.
B) one more unit of the good divided by the number of units purchased.
C) one more unit of the good.
D) all of the units of the good the person consumes divided by the number of units he or she purchases.

Question

Quizplus · Accepted Answer

Marginal benefit is the additional satisfaction a person receives from consuming one more unit of a good, and it is measured by the amount a person is willing to pay for that additional unit. Therefore, the marginal benefit from a good is equal to the maximum amount a person is willing to pay for one more unit of the good.

The Marginal Benefit from a Good Is the Amount a Person