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ECON100 Midterm Practice Flashcards | StudBud
ECON100 Midterm Practice
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All of the following statements about marginal benefit are correct EXCEPT
A
the marginal benefit is the benefit a person receives from consuming one more unit of agood or service.
B
the marginal benefit of a good or service is measured as the maximum amount that aperson is willing to pay for one more unit of it.
C
the marginal benefit of a good decreases as the quantity consumed of the go
D
the marginal benefit of a good is equal to zero when resource use is effici
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