Use the Figure Below to Answer the Following Question

question 46

Multiple Choice

Use the figure below to answer the following question.

Figure 2.1.6
-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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Definitions:

Existing Theories

Previously developed and accepted explanations for phenomena or observations within a particular domain of knowledge.

Toilet Training

The process of teaching a young child to use the toilet for urination and defecation, also known as potty training.

Maturation

The process of becoming mature, involving the growth and development of the body or mind, or the development of natural abilities at a predetermined pace and sequence.

Object Permanence

The awareness that things continue to exist even when not perceived.