The Additional Benefit to a Consumer from Consuming One More

question 78

Multiple Choice

The additional benefit to a consumer from consuming one more unit of a good or service

• A)is equal to consumer surplus.
• B)is equal to the opportunity cost of consuming the good or service.
• C)is equal to marginal benefit.
• D)is equal to economic surplus.

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Definitions:

Acrostic

A poem, word puzzle, or other composition in which certain letters in each line form a word or words when read in sequence.

Memory Process

The series of steps that include encoding, storing, and retrieving information.

Retention

The process of storing information.

Recall

The mental process of retrieving information or memories from the past.