The marginal benefit of a slice of pizza is the:
A. total amount that a consumer is willing to pay for a whole pizza, divided by the number of slices
B. difference between the value of the slice to the consumer and the price of the slice.
C. maximum amount that a consumer is willing to pay for the slice.
D. price of the slice of pizza
Answer: C. maximum amount that a consumer is willing to pay for the slice.
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A) Okun's Law; four; below B) Keynes' Law; two; below C) Phillip's Law; four; above D) Say's Law; two; above E) Okun's Law; two; below
A problem with the income security program category for federal government outlays is that it excludes unemployment compensation
a. True b. False Indicate whether the statement is true or false
Which of the following is the primary source of high earnings in a market economy?
What will be an ideal response?
Suppose that people want bike paths through town, but no private individual or business is willing to build it. This is an example of:
A. productive inefficiency. B. government failure. C. negative externalities. D. market failure.