The Marginal Benefit from a Good Is the Amount a Person

question 133

Multiple Choice

The marginal benefit from a good is the amount a person is willing to pay for

• A) all of the good the person consumes.
• B) one more unit of the good.
• C) all of the units of the good the person consumes divided by the number of units he or she purchases.
• D) one more unit of the good divided by the number of units purchased.

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Definitions:

Voice-of-customer

Voice-of-customer entails gathering insights and feedback directly from consumers to understand their needs, preferences, and experiences.

Quality Gap Analysis

The process of assessing the difference between the existing quality of products or services and the expected quality.

Empowerment

The process of giving individuals or groups the power and resources to make decisions, take actions, and affect change.

Tangibles

Physical items or properties that can be seen, touched, and quantified, as opposed to intangible assets like patents or trademarks.