Which of the following statements is FALSE?
A) The maximum price people are willing to pay for one more unit of a good is its value.
B) A good's marginal benefit is the maximum price people are willing to pay for another unit.
C) The value of one more unit of a good is the good's marginal benefit.
D) None of the above because all the statements are true.

Question

Quizplus · Accepted Answer

All the statements essentially convey the same concept, indicating that they are all true. The maximum price people are willing to pay for one more unit of a good reflects its value or marginal benefit, making none of the statements false.

Which of the Following Statements Is FALSE