An individual will maximize his or her satisfaction from an activity by carrying it out to the point where marginal benefit exceeds marginal cost by the greatest amount.
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Q191: Cost-benefit analysis applies to all rational decision-making.
Q192: An opportunity cost is the cost of
Q193: The additional satisfaction from consuming one more
Q194: According to the Law of Diminishing Marginal
Q195: If the marginal cost of carrying out
Q197: Net benefit is at a maximum at
Q198: Marginal benefit always equals marginal cost at
Q199: If the marginal benefit from an activity
Q200: Normal profit is an implicit cost of
Q201: Normal profit is one of the explicit
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