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

Question

Quizplus · Accepted Answer

Marginal benefit is not necessarily zero when resource use is efficient; rather, it is equal to the marginal cost at the point of efficiency.

All of the Following Statements About Marginal Benefit Are Correct