The marginal benefit Colin gets from eating a fourth slice of pizza isA. the total benefit Colin gets from eating four slices of pizza minus the total benefit Colin gets from eating three slices of pizza. B. the same as the total benefit of eating four slices of pizza. C. less than the marginal cost of eating the fourth slice of pizza since he chose to eat the fourth slice. D. the total benefit Colin gets from eating five slices of pizza minus the total benefit Colin gets from eating four slices of pizza.

Question

Business

Jairo Jacobson

4 November, 15:56

The marginal benefit Colin gets from eating a fourth slice of pizza isA. the total benefit Colin gets from eating four slices of pizza minus the total benefit Colin gets from eating three slices of pizza. B. the same as the total benefit of eating four slices of pizza. C. less than the marginal cost of eating the fourth slice of pizza since he chose to eat the fourth slice. D. the total benefit Colin gets from eating five slices of pizza minus the total benefit Colin gets from eating four slices of pizza.

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Jovan Barron · Answer 1

A) the total benefit Colin gets from eating four slices of pizza minus the total benefit Colin gets from eating three slices of pizza.

Explanation:

Marginal benefit refers to the utility received from doing something one more time. When businesses want to measure marginal benefits, they simply measure the extra revenue generated by selling one more unit, that is why it is referred to as marginal revenue. But when individuals get a marginal benefit, we tend to use a unit called util, and the marginal benefit is how many utils do we get from consuming an extra unit of product.