The additional benefits that arise by using an additional unit of the managerial control variable is defined as the:
A. opportunity cost.
B. marginal benefit.
C. total benefit.
D. present value of benefits.
Answer: B
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Refer to Figure 4-1. Kendra's marginal benefit from consuming the second ice cream cone is
A) $6.50 B) $6.00 C) $3.00 D) $2.25
Refer to Table 12-2. What is Margie's total revenue if she sells 250 pounds of apples?
A) $250 B) $500 C) $750 D) There is not enough information in the table to determine Margie's total revenue.
Which of the following would shift the money demand curve to the left?
a. A decrease in the price level. b. An increase in the interest rate. c. An increase in the price level. d. An increase in real income. e. None of the above.
If two units of a good provide 8 utils and the marginal utility of the third unit of the good is 2 utils, what is the total utility from consuming three units of the good?
A) 2 utils B) 8 utils C) 10 utils D) 6 utils