The extra benefit resulting from a small increase in some activity is called the
A) marginal cost.
B) marginal benefit.
C) marginal value.
D) marginal equilibrium.

Question

Quizplus · Accepted Answer

The term "marginal" refers to the additional or extra benefit resulting from a small increase in some activity. Therefore, the extra benefit resulting from a small increase in some activity is called the marginal benefit. The other options are not correct: marginal cost refers to the additional cost resulting from a small increase in some activity, marginal value is not a commonly used term in economics, and marginal equilibrium does not make sense in this context.

The Extra Benefit Resulting from a Small Increase in Some