Marginal benefit
A) is the same as the total benefit received from consuming a good.
B) is the maximum amount a person is willing to pay for one more unit of a good.
C) increases as consumption increases.
D) is the difference between total benefit and total cost.

Question

Quizplus · Accepted Answer

Marginal benefit is the additional benefit received from consuming one more unit of a good, which is often reflected in the maximum amount a person is willing to pay for that additional unit.

Marginal Benefit