The Extra Benefit Resulting from a Small Increase in Some

question 46

Multiple Choice

The extra benefit resulting from a small increase in some activity is called the

• A) marginal cost.
• B) marginal benefit.
• C) marginal value.
• D) marginal equilibrium.

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Definitions:

Multiple Options

Refers to situations or questions that offer more than one possible answer or choice.

Outcomes Of Decisions

The consequences or results that follow from the choices individuals make.

Utility Theory

An economic theory that describes how individuals make choices based on their perceived satisfaction or utility from outcomes, aiming to maximize pleasure and minimize pain.

Predict How Feel

the attempt to forecast one’s future emotional states or reactions in specific situations, which can influence decision-making and planning.