Question

You decide to eat one more chip. the change in the total amount gained that comes from this action is the _____ . marginal cost marginal benefit maximized utility

Answer 1

The correct answer that would best complete the given statement above would be the second option: MARGINAL BENEFIT. You decide to eat one more chip. The change in the total amount gained that comes from this action is the marginal benefit.

Answer 2

Marginal cost is the incremental cost incurred for one additional unit.

Marginal benefit is the incremental benefit gained from the one additional unit.

The maximized utility is the concept of getting maximum values from the minimum expenditure.

If you decide to eat one more chip. the change in the total amount gained that comes from this action is the Marginal benefit.

Hence the correct answer is the Marginal benefit