All of the Following Statements About Marginal Benefit Are Correct

question 174

Multiple Choice

All of the following statements about marginal benefit are correct EXCEPT the marginal benefit of a good

• A) is the benefit a person receives from consuming one more unit of the good or service.
• B) is measured as the maximum amount that a person is willing to pay for one more unit of the good.
• C) is equal to zero when resource use is efficient.
• D) decreases as the quantity consumed of the good increases.

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Definitions:

Opinion Approach

A sales technique that involves starting a conversation by asking for the customer’s opinion, aiming to engage and understand their perspective.

Product Opportunities

Potential areas for new product development or enhancement of existing products based on market demand, trends, and consumer feedback.

Problem Questions

Questions posed by a seller to uncover a buyer's issues or challenges that the seller's product or service can resolve.

Multiple-Question Approach

A sales technique where various types of questions are used throughout the selling process to gather information, assess needs, and facilitate decision-making.