I think the answer to this is C but I am also not sure. 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.
I think the answer to this is C but I am also not sure. 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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I think the answer to this is C but I am also not sure.
The additional benefit to a consumer from consuming one more unit of a good or service
A) is equal to
B) is equal to the
C) is equal to marginal benefit.
D) is equal to economic surplus.
Expert Solution
Introduction
Consumer Surplus: Consumer surplus is the benefits that the consumer receives by purchasing products in the market at market equilibrium price level. And graphically it is represented by the area below the demand curve and above the market equilibrium price line.
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