Asked by

Ricky Rivas
on Oct 09, 2024

verifed

Verified

The marginal benefit curve is:

A) upsloping because of increasing marginal opportunity costs.
B) upsloping because successive units of a specific product yield less and less extra benefit.
C) downsloping because of increasing marginal opportunity costs.
D) downsloping because successive units of a specific product yield less and less extra benefit.

Marginal Benefit Curve

A graphical representation showing how the benefit (utility or satisfaction) to a consumer changes as consumption of a good or service increases.

Extra Benefit

The additional advantage or utility gained from consuming one more unit of a good or service.

Specific Product

A distinct good or service that is identifiable and distinct from others due to unique characteristics or features.

  • Gain insight into the notions of marginal benefits and marginal costs, and their roles in ascertaining the optimal production quantity and resource distribution.
verifed

Verified Answer

MC
Mattison CaronOct 09, 2024
Final Answer:
Get Full Answer