Marginal Benefit Is the Total Benefit to a Consumer from Consuming

question 83

True/False

Marginal benefit is the total benefit to a consumer from consuming one more unit of a good or service.

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Definitions:

1040ES

Form 1040-ES is used by taxpayers to estimate their taxes for the year and make quarterly payments. It is typically used by self-employed individuals or those without sufficient tax withholding.

1040A

A simplified version of the IRS Form 1040 used for individual income tax filing in the United States, applicable for taxpayers with straightforward tax situations.

Married Taxpayer Filing Separately

A tax filing status for married couples who choose to file their tax returns separately.

Itemized Deductions

Expenses allowed by the IRS that can be deducted from adjusted gross income to reduce taxable income, including charitable donations, medical expenses, and mortgage interest.