Marginal benefit is the
A) total benefit we receive from consuming a good or service.
B) additional benefit we receive from consuming one more unit of a good or service.
C) minimum amount of other goods or services we are willing to give up.
D) opportunities given up to get one more unit of a good or service.
E) the benefit we receive from consuming one more unit of a good or service minus the cost of the producing one more unit of the good or service.

Question

Quizplus · Accepted Answer

Marginal benefit refers to the additional benefit or satisfaction that an individual receives from consuming one more unit of a good or service. It is not the total benefit, minimum amount of other goods or services willing to be given up, or the opportunity cost of acquiring one more unit of a good or service. It also does not subtract the cost of producing one more unit, as that would be the concept of marginal cost.

Marginal Benefit Is the