The extra benefit resulting from a small increase in some activity is called the:
A) marginal equilibrium.
B) marginal benefit.
C) marginal cost.
D) marginal value.

Question

Quizplus · Accepted Answer

The extra benefit resulting from a small increase in some activity is called the marginal benefit. Marginal equilibrium refers to the point at which marginal cost equals marginal benefit. Marginal cost refers to the additional cost resulting from a small increase in some activity. Marginal value refers to the value of the last unit produced or consumed.

The Extra Benefit Resulting from a Small Increase in Some