If you increase your consumption of soft drink by one additional can a week, your marginal benefit of this last can is $1.00. The _______ of this last can of soft drink is $1.00.
A) price
B) value
C) marginal cost
D) opportunity cost

Question

Quizplus · Accepted Answer

The marginal benefit of consuming an additional unit of a good or service is the additional satisfaction or utility that a consumer derives from consuming that additional unit. In this context, the term that best matches the description of the additional satisfaction or utility being quantified in monetary terms ($1.00) is "value."

If You Increase Your Consumption of Soft Drink by One