The marginal benefit Joseph gets from purchasing a fourth pair of shoes is

A) the same as the total benefit he gets from purchasing four pairs of shoes.
B) more than the marginal cost of purchasing the fourth pair of shoes.
C) the total benefit he gets from purchasing four pairs of shoes minus the total benefit he gets from purchasing three pairs of shoes.
D) the total benefit he gets from purchasing five pairs of shoes minus the total benefit he gets from purchasing four pairs of shoes.

Question

Akshay Banerjee · Accepted Answer

Final Answer : C, Explanation :  Marginal benefit is the additional benefit obtained from consuming one more unit of a good or service. It is calculated as the difference in total benefit received from consuming an additional unit compared to the total benefit received from the previous level of consumption. Therefore, the marginal benefit of purchasing a fourth pair of shoes is the difference in total benefit between four pairs and three pairs of shoes.

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