A Person Should Consume More of Something When Its Marginal

question 36

Multiple Choice

A person should consume more of something when its marginal

• A)benefit exceeds its marginal cost.
• B)cost exceeds its marginal benefit.
• C)cost equals its marginal benefit.
• D)benefit is still better.

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Definitions:

Pattern Theory

The proposal that different sensory qualities are encoded by specific patterns of firing among the relevant neurons.

Signal-Detection Experiment

A research method used to assess the ability to differentiate between information-bearing patterns and random patterns.

Miss

To fail to hit, reach, catch, or otherwise make contact with someone or something.

Jury

A group of people sworn to render a verdict based on the evidence presented in a court of law.