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5 August, 05:10

If John's marginal benefit derived from the consumption of another candy bar is greater than the price of the candy bar:

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  1. 5 August, 05:35
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    Answer: John will increase his satisfaction by purchasing the candy bar

    Explanation: marginal benefit is a maximum amount a consumer is willing to pay for an additional good or service. It is also the additional satisfaction or utility that consumer receives when the additional good or service is purchased. The marginal benefit for a consumer tends to decreases as consumption of the good or service increases. A marginal benefit applies to any additional unit purchased for consumption after the first unit has been acquired.

    For example, if a person purchases a burger for $10, it is assumed the consumer is obtaining at least $10 worth of perceived value from the item.
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