ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the benefit that arises from the secondary effects of an activity
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the benefit of an activity that exceeds its cost
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the benefit that arises from an increase in an activity
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the benefit that your activity provides to someone else.
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Detailed explanation-1: -The marginal benefit is the amount by which an additional unit of an activity increases its total benefit. It is the amount by which the extra french fries increase your satisfaction, or the extra revenue the firm expects to bring in by hiring another worker.
Detailed explanation-2: -Positive Benefit: Marginal benefit increases as additional units are consumed.
Detailed explanation-3: -Marginal benefits are the maximum amount a consumer will pay for an additional good or service. A marginal benefit is also the additional satisfaction that a consumer receives when the additional good or service is purchased. The marginal benefit generally decreases as consumption increases.
Detailed explanation-4: -Marginal cost is the increase in total cost from producing an additional unit of output. Hence, it is a cost that arises from an increase in an activity.
Detailed explanation-5: -A marginal benefit is a maximum amount that a consumer would be willing to pay. This would be for an additional good or service. It’s also the additional utility or satisfaction that a consumer gets when the additional good or service is bought.