The amount that a consumer pays to consume an additional unit of a particular good is the marginal

Question

Quizplus · Accepted Answer

Marginal cost is the additional cost incurred to produce or consume an additional unit of a particular good. In the case of consumption, the amount that a consumer pays to consume an additional unit is the private cost incurred by the consumer, and hence, option A is the correct answer.

Option B, damage cost, refers to the cost of the potential harm caused by the production or consumption of a particular good, and is not directly related to the cost incurred by the consumer to consume an additional unit.

Option C, positive cost, is not a commonly used term in economics and is not related to the concept of marginal cost.

Option D, social cost, refers to the total cost incurred by society as a whole from the production or consumption of a particular good, and includes both the private cost incurred by the consumer and any externalities or spillover effects that are not accounted for in the private cost. While this is an important concept in economics, it is not directly related to the cost incurred by the consumer to consume an additional unit, and hence, option A remains the most appropriate choice.

The Amount That a Consumer Pays to Consume an Additional