All of the following statements about marginal benefit are correct EXCEPT that the marginal benefit of a good
A) is the benefit a person receives from consuming one more unit of the good or service.
B) decreases as the quantity consumed of the good increases.
C) is measured as the maximum amount that a person is willing to pay for one more unit of the good.
D) is equal to zero when resource use is efficient.

Question

Quizplus · Accepted Answer

Marginal benefit does not equal zero when resource use is efficient. Instead, in an efficient allocation of resources, marginal benefit equals marginal cost.

All of the Following Statements About Marginal Benefit Are Correct