The benefit to some consumer of the last unit of a good consumed is
A)represented by the height of the supply curve at that quantity
B)negative if the producer is suffering economic loss
C)decreases at an increasing rate in a competitive product market
D)is zero
E)represented by the height of the demand curve at that quantity

Question

Quizplus · Accepted Answer

The benefit to some consumer of the last unit of a good consumed is represented by the height of the demand curve at that quantity. This is because the height of the demand curve represents the maximum price a consumer is willing to pay for an additional unit of the good, which reflects the benefit they receive from consuming it.

The Benefit to Some Consumer of the Last Unit of a Good