The marginal benefit of an activity is
i.the benefit from a one-unit increase in the activity.
ii.the benefit of a small,unimportant activity.
iii.measured by what the person is willing to give up to get one additional unit of the activity.
A) i only
B) ii only
C) iii only
D) i and iii
E) ii and iii

Question

Quizplus · Accepted Answer

The marginal benefit of an activity is the benefit from a one-unit increase in the activity (i) and is measured by what the person is willing to give up to get one additional unit of the activity (iii). Option ii is incorrect because the question states that the activity being referred to is not small or unimportant.

The Marginal Benefit of an Activity Is