Marginal benefit is the benefit that a person receives from consuming
举一反三
- The benefit someone gets from consuming one more glass of lemonade is known as the
- Consider the market for hot dogs. As long as the marginal benefit of consuming hot dogs is greater than the price of hot dogs, A: people receive consumer surplus from eating hot dogs. B: the price of hot dogs will rise. C: the value of hot dogs will rise. D: there is no decreasing marginal benefit of eating hot dogs.
- A<br/>rational decision maker takes an action only if the() A: marginal benefit is less than the marginal<br/>cost. B: marginal benefit is greater than the<br/>marginal cost. X C: average benefit is greater than the average<br/>cost. D: marginal benefit is greater than both the<br/>average cost and the marginal cost.
- A country produces only pencils and erasers. Pencil production is allocatively efficient if the marginal ________ of a pencil equals the marginal ________ of ________. A: cost; benefit; an eraser B: cost; cost; an eraser C: benefit; benefit; an eraser D: benefit; cost; a pencil
- Susan likes to drink sodas. The ( ) soda Susan drinks, the ( ) of the last soda. A: more; higher the marginal benefit B: less; higher the opportunity cost C: less; lower the marginal benefit D: more; lower the marginal benefit