The private benefit of consuming a good is
A) its benefit to the people who buy and consume it.
B) its total benefit to everyone in the society.
C) its cost to everyone in the society.
D) the cost paid by the firm that produces and sells it.

Question

Quizplus · Accepted Answer

The private benefit of consuming a good refers to the benefits received by the individuals who purchase and consume the good. This may include benefits such as pleasure, increased productivity, or improved health, among others. The private benefit does not take into account the wider benefits or costs to society as a whole, but rather focuses on the benefits and costs to the individual consumer.

The Private Benefit of Consuming a Good Is