Which of the Following Is True Regarding Marginal Benefit? I

question 58

Multiple Choice

Which of the following is true regarding marginal benefit? I.The marginal benefit curve shows the benefit firms receive by producing another unit of a good.
II.Marginal benefit increases as more and more of a good is consumed.
III.Marginal benefit is the maximum amount a person is willing to pay to obtain one more unit of a good.

• A)I only
• B)I and II
• C)I and III
• D)III only
• E)I,II,and III

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