Select the incorrect statement: a. The marginal benefit of a good is the change in benefit as one more unit is consumed.

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Select the incorrect statement: a. The marginal benefit of a good is the change in benefit as one more unit is consumed.

Post by answerhappygod »

Select the incorrect statement:
a.
The marginal benefit of a good is the change in benefit as one more
unit is consumed.
b.
The marginal cost of a good is the opportunity cost of producing
one more unit of it.
c.
The marginal cost of a good or service is the change in cost
resulting from producing one more unit of it.
d.
As the marginal cost of producing bananas increases, the
opportunity cost steadily falls.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply