The Marginal Benefit Colin Gets from Eating a Fourth Slice

question 225

Multiple Choice

The marginal benefit Colin gets from eating a fourth slice of pizza is

• A) the total benefit Colin gets from eating four slices of pizza minus the total benefit Colin gets from eating three slices of pizza.
• B) the same as the total benefit of eating four slices of pizza.
• C) less than the marginal cost of eating the fourth slice of pizza since he chose to eat the fourth slice.
• D) the total benefit Colin gets from eating five slices of pizza minus the total benefit Colin gets from eating four slices of pizza.

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Definitions:

Opportunity Cost

The value of the best alternative that is forgone when a decision is made to pursue a particular course of action.

Expected Profit Rate

The forecasted return on an investment, calculated based on potential outcomes and their probabilities.

Net Inventory Investment

The change in the total value of inventories in an economy during a specific period.

Positive

An attribute or condition that reflects an increase, improvement, or favorable outcome.