If the Marginal Benefit Were Greater Than the Cost of a Good

question 53

Multiple Choice

If the marginal benefit were greater than the cost of a good:

• A)consumers could increase their utility by buying more.
• B)consumers could increase their utility by buying less.
• C)producers should decrease production.
• D)None of these is true.

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Definitions:

Adopter

An individual or entity that starts using a new product, technology, or idea.

Concept Test

A research technique used to evaluate consumer response to a product idea before it is marketed, by presenting the concept in a detailed, simulated market scenario.

Marketing Professionals

Individuals who specialize in the study, design, and management of marketing processes and strategies.

Potential Product

A concept in marketing that refers to all the possible enhancements and improvements that a product might undergo to meet future needs or untapped market segments.