Your marginal benefits from a choice depend on your opportunity costs.

Name: Your marginal benefits from a choice depend on your opportunity costs.
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Question

Quizplus · Accepted Answer

Marginal benefits refer to the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service, whereas opportunity costs represent the benefits a person misses out on when choosing one alternative over another. They are related but distinct concepts; marginal benefits do not depend on opportunity costs.

Your Marginal Benefits from a Choice Depend on Your Opportunity