19
QuizMultiple Choice

Study Guide and Quiz

Question 19 • S25 Introduction to Business A (Theisen)

The amount that people are willing to pay for each additional unit of a product or service is the _____________?

Answer
A
Opportunity cost
B
Marginal benefit
C
Marginal cost
D
Investment opportunity

Explanation

Marginal benefit is the additional value or willingness to pay for one more unit of a product or service. Therefore, the amount people are willing to pay for each additional unit is marginal benefit. Marginal cost, by contrast, is the cost of producing one more unit.

AI-written and checked against the verified answer.

Previous
Next