Multiple Choice
Which of the following is true regarding marginal benefit? I.The marginal benefit curve shows the benefit firms receive by producing another unit of a good.
II.Marginal benefit increases as more and more of a good is consumed.
III.Marginal benefit is the maximum amount a person is willing to pay to obtain one more unit of a good.
A) I only
B) I and II
C) I and III
D) III only
E) I,II,and III
Correct Answer:
Verified
Correct Answer:
Verified
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