Marginal benefit is the benefit that a person receives from consuming

Question

BlackTom AI · Accepted Answer

The question asks: Marginal benefit is the benefit that a person receives from consuming

Because no list of answer choices is provided in the question, we cannot analyze alternatives in comparison to one another. However, we can still explain the concept itself.

Conceptual understanding: Marginal benefit refers to the additional benefit that a consumer obtains from consuming one more unit of a good or service. It captures the incremental value or satisfaction gained from the next unit, holding other factors constant. This is distinct from total benefit, which sums the benefits across all units consumed.

Why the provided correct answer aligns with the concept: The statement 'one more unit of a good or service' exactly describes the incremental nature of marginal benefit. It emphasizes that the gain is tied to the next unit consumed rather than the entire quantity consumed, which would correspond to total benefit.

What would make an option incorrect if it were present: An option suggesting Marginal benefit is derived from the first unit only would be incorrect, since marginal benefit concerns each additional unit, not the initial ones exclusively. An option claiming Marginal benefit equals average benefit would be inaccurate, because average benefit divides total benefit by quantity and does not reflect the incremental gain from the next unit.

In this context, with the standard definition, the correct framing is that marginal benefit is the additional benefit from consuming one more unit, which matches the provided correct answer.

ECON 215-002 HOMEWORK 6

Marginal benefit is the benefit that a person receives from consuming

查看解析

登录即可查看完整答案

类似问题

What is the shape of the marginal benefit curve for pollution reduction?

A consumer’s marginal benefit curve (MB) for a good is represented by MB = 180–3q. What is the MB of unit number 25 of the good consumed?

After much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events could prompt you to reverse this decision?

After much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events could prompt you to reverse this decision?

The marginal benefit of a slice of pizza is the:

The marginal benefit of a slice of pizza is the:

What is the change in the total benefit when one more unit is made?

At a price of $3.00, if a consumer is willing to buy 4 cups of tea per week. More precisely, what does this mean?

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单