To an economist, 'value' is the same as
A) the minimum price that people are willing to pay for another unit of the good.
B) total surplus.
C) marginal benefit.
D) marginal cost.
E) consumer surplus.

Question

Quizplus · Accepted Answer

To an economist, 'value' is similar to marginal benefit since it expresses the highest price that a buyer is willing to pay for an additional unit of a good or service.

To an Economist, 'Value' Is the Same as