Products or services that are essential to survival always have low marginal benefits.

Question

Quizplus · Accepted Answer

The marginal benefit of a product or service essential to survival can be very high, especially if it is scarce or if the need for it increases significantly. Marginal benefit refers to the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service. Essential goods, like water or food, can have high marginal benefits under certain conditions, such as scarcity or increased need.

Products or Services That Are Essential to Survival Always Have