The Amount by Which an Additional Unit of an Activity

question 53

Multiple Choice

The amount by which an additional unit of an activity increases total benefit is:

• A)net benefit.
• B)marginal benefit.
• C)marginal cost.
• D)utility.

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Definitions:

Arbitrator's Decision

A binding resolution made by an arbitrator or arbitration panel in a dispute resolution process outside of court.

Award

The act of giving a formal decision or settlement, especially in resolving a dispute or in a competitive context.

Hearsay

Information reported by a secondhand source that is not directly experienced or observed by the testifier, often inadmissible in court due to its unreliable nature.

Contempt of Court

An act of disobedience or disrespect towards the judiciary or an interference with its orderly process.