The Marginal Benefit of Each Additional Unit of a Good

question 117

Multiple Choice

The marginal benefit of each additional unit of a good consumed

• A) increases as more is consumed.
• B) is always equal to its marginal cost.
• C) decreases as more is consumed.
• D) will maximize consumer surplus.
• E) is equal to the deadweight loss if the unit of the good is not produced.

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Definitions:

Industrialized Nations

Countries that have highly developed industries and infrastructure, often characterized by a high standard of living.

Probable Stage

A phase or condition where something is likely to occur or is expected based on current evidence or trends.

Education and Income

The correlation between the level of education attained by individuals and their potential to earn higher incomes.

Maintenance Stage

A phase in the change process where individuals consolidate the gains achieved and prevent relapse.