A Marginal Benefit Curve Shows

question 285

Multiple Choice

A marginal benefit curve shows

• A) the efficient use of resources.
• B) the quantity of one good that must be forgone to get more of another good.
• C) the quantity of one good that people are willing to forgo to get another unit of another good.
• D) there are increasing opportunity costs.

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Definitions:

Ratio

The quantitative relation between two amounts, showing the number of times one value contains or is contained within the other.

Equivalent Ratio

A ratio that has the same value when compared to another ratio, despite possibly having different terms.

Ratio

A relationship between two quantities expressed as the quotient of one divided by the other.

Equivalent Ratio

A way to express the same relationship or proportion between two quantities, although the numbers involved may differ.