The benefit from an additional unit of a good or service that society receives from the consumption of that good or service is the
A) marginal private benefit.
B) marginal external benefit.
C) marginal social benefit.
D) opportunity cost.

Question

Quizplus · Accepted Answer

The marginal social benefit is the total benefit to society from consuming an additional unit of a good or service, including both private and external benefits.

The Benefit from an Additional Unit of a Good or Service