According to the marginal principle, an individual will do best by producing or consuming where:
A) marginal benefit is less than marginal cost.
B) total benefit equals total cost.
C) marginal benefit equals marginal cost.
D) marginal benefit exceeds total benefits.

Question

Quizplus · Accepted Answer

The marginal principle states that an individual will do best by producing or consuming where marginal benefit equals marginal cost. This is because at this point, the individual is getting the most value for their resources without overspending.

According to the Marginal Principle, an Individual Will Do Best