Ron is buying jeans online and has to decide how many to buy. He should buy an additional pair if the
A)marginal benefit of the next pair is less than the price of the jeans.
B)marginal benefit of the next pair is at least as high as the price of the jeans.
C)total benefit when purchasing one more pair is less than the total cost of the jeans.
D)total benefit when purchasing one more pair is at least as high as the total cost of the jeans.

Question

Quizplus · Accepted Answer

Ron should buy an additional pair if the marginal benefit of the next pair is at least as high as the price of the jeans. This means that the additional benefit he receives from buying one more pair is worth at least the cost of the pair itself. This ensures that Ron is getting the most value out of his purchase without overspending.

Ron Is Buying Jeans Online and Has to Decide How