Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is:

A. 125
B. 375
C. 5
D. 41.67


Answer: C

Economics

You might also like to view...

The business cycle is usually illustrated using movements in

A) the inflation rate. B) labor productivity. C) real GDP. D) the size of the labor force.

Economics

If Luxury Cabinets, a kitchen cabinet manufacturer, builds a cabinet plant near Big Woods, a timber harvesting farm, to reduce the costs of transporting lumber, the cabinet plant is a(n) ________.

A) information asset B) negotiation asset C) transaction-specific asset D) monitoring cost

Economics

When many substitutes exist for a good, demand will be

A) elastic. B) unit-elastic. C) inelastic. D) perfectly unit-elastic.

Economics

In the above table, the cross price elasticity of demand for good Z with good Y when PY rises from $15 to $18 is

A) -2.20. B) +2.20. C) +1.10. D) -1.10.

Economics