The additional benefit that Marvin gets from being vaccinated against the flu is known as the
A) external benefit.
B) marginal private benefit.
C) private cost.
D) social cost.
E) marginal social benefit.

Question

Quizplus · Accepted Answer

The marginal private benefit is the additional benefit that an individual (in this case, Marvin) receives from consuming an additional unit of a good or service, such as getting vaccinated against the flu. This does not account for the benefits or costs to society at large, but rather focuses on the individual's perspective.

The Additional Benefit That Marvin Gets from Being Vaccinated Against