Question

What is an individual marginal benefit curve?

A.A curve that shows the additional costs of producing one more unit of a good.
B.A curve that shows the benefit and costs of producing one additional unit of a good.
C.None of the answers are correct
D.A curve that shows the additional benefit a consumer receives by purchasing one additional unit of a good.

Answer 1

An individual marginal benefit curve shows the additional benefit a consumer receives from purchasing one more unit of a good.

Step-by-step explanation:

An individual marginal benefit curve is a curve that shows the additional benefit a consumer receives by purchasing one additional unit of a good. It represents the change in satisfaction or utility gained from consuming one more unit of a good or service. As the consumer consumes more units, the marginal benefit decreases, indicating diminishing marginal utility.