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Misael Barron
on Oct 09, 2024

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A person should consume more of something when its marginal:

A) benefit exceeds its marginal cost.
B) cost exceeds its marginal benefit.
C) cost equals its marginal benefit.
D) benefit is still better.

Marginal Benefit

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

Marginal Cost

The additional cost incurred by producing one more unit of a product or service, highlighting how costs vary with production levels.

  • Grasp the essence of evaluating marginal benefits in contrast with marginal costs.
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CJ
Christopher Jason ChrislissonOct 13, 2024
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