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:

Characterized By

Distinguished or marked by specific features, attributes, or traits.

Lack Of Freedom

A state in which an individual or group is restricted in their ability to make choices or act independently.

Childhood

The period in a person's life from birth to adolescence, characterized by growth, development, and learning.

Total Absorption

A state of complete mental focus or engagement in an activity to the exclusion of other thoughts or stimuli.