The Phrase "Decreasing Marginal Benefit" Means That

question 44

Multiple Choice

The phrase "decreasing marginal benefit" means that

• A) the more you consume of the product, the less total benefit you derive.
• B) the marginal cost will be increasing as you consume more of a good.
• C) each additional unit of a good you consume gives you less additional benefit than the previous unit.
• D) Both answers A and B are correct.
• E) Both answers A and C are correct.

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Definitions:

Physical Environment

The external surroundings and conditions in which an organism lives, including both natural and man-made factors.

Community

An interacting group of various species living in a common location.

Agriculture

The science or practice of farming, including cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products.

Beneficial Use

The use of resources in a way that brings positive effects to the environment or society.