The benefit from a good or service that you purchase is measured by
A)the dollar amount that is paid for the good or service.
B)the dollar amount you can get by selling the good or service.
C)what you are willing to give up to obtain the good or service.
D)how strong the incentives were that led to buying the good or service.
E)None of the above answers is correct because there is no way to measure the benefit you receive from purchasing a good or service.

Question

Quizplus · Accepted Answer

The benefit from a good or service is measured by what you are willing to give up to obtain it. This is known as the opportunity cost, which is the value of the next best alternative that is given up in order to obtain the good or service. It is based on your individual preferences and can vary from person to person.

The Benefit from a Good or Service That You Purchase