The point that each glass of lemonade consumed on a hot day brings lower and lower levels of satisfaction is known as the principle of
A) total benefits.
B) increasing marginal cost.
C) decreasing marginal benefit.
D) increasing opportunity cost.
E) decreasing marginal price.
C
You might also like to view...
Which of the following variables is not needed to determine the break-even quantity?
a. Marginal costs b. Fixed Costs c. Selling Price d. Average Costs
What is the net benefit associated with producing two units of the control variable, Q (identify point C in the table)?Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000
A. 1,400 B. 1,200 C. 800 D. 600