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Janosan Yogarajah
on Dec 11, 2024

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If Melanie's marginal benefit as a consumer in the jeans market is larger than the price of a pair of jeans,

A) Melanie will not purchase any more jeans.
B) Melanie can benefit by purchasing more jeans.
C) the opportunity cost of a pair of jeans is lower than the price.
D) Melanie will decrease her total utility by purchasing more jeans.

Marginal Benefit

The additional satisfaction or utility that a person receives from consuming one more unit of a good or service.

Total Utility

The overall level of satisfaction or fulfillment a consumer receives from consuming a specific quantity of a good or service.

  • Clarify the role of marginal utility in the optimization of utility-maximizing actions.
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JL
Joselin LopezDec 17, 2024
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