What is marginal benefit? Which curve is also referred to as a marginal benefit curve?
What will be an ideal response?
Marginal benefit is the additional benefit to a consumer from consuming one more unit of a good. The demand curve is also referred to as a marginal benefit curve.
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The per capita GDP of a country is calculated by: a. dividing the total population of the country by its GDP
b. dividing the GDP of the country by its total population. c. multiplying the GDP of the country by its total population. d. adding the GDP of the country to its total population.
Price supports:
A. decrease pollution because participants must practice organic farming. B. neither increase nor decrease environmental pollution. C. increase pollution because supports encourage the cultivation of marginal land and the use of more pesticides and fertilizers. D. discourage rent-seeking activity.