The value of one more unit of a good or service is the
A) marginal benefit.
B) minimum price that people are willing to pay for another unit of the good or service.
C) marginal cost.
D) opportunity cost of producing one more unit of a good or service.

Question

Quizplus · Accepted Answer

The value of one more unit of a good or service is referred to as the marginal benefit, which represents the additional satisfaction or utility gained from consuming one more unit.

The Value of One More Unit of a Good or Service