The additional benefit of increasing some activity by one-unit is called the
A) marginal benefit.
B) opportunity cost.
C) total benefit.
D) scarcity.
E) sunk benefit.

Question

Quizplus · Accepted Answer

The additional benefit of increasing a certain activity by one-unit is known as the marginal benefit. This concept is commonly used in economics to determine the optimal level of production or consumption by comparing the marginal benefit to the marginal cost.

The Additional Benefit of Increasing Some Activity by One-Unit Is