camperwill99 camperwill99

21-06-2024
Social Studies

Answered

You have nine shirts. You are considering buying a tenth shirt for [tex]$30. You could also save that $[/tex]30 toward purchasing a new smartphone.

The additional satisfaction of having a tenth shirt to choose from when getting dressed is called a(n):

A. marginal benefit
B. opportunity cost
C. marginal cost
D. incentive

Answer :

GinnyAnswer GinnyAnswer

21-06-2024

Final answer:

Marginal benefit represents the additional satisfaction from consuming one more unit of a good. Opportunity cost is the value of the best alternative forgone when making a decision.

Explanation:

Marginal benefit refers to the additional satisfaction gained from consuming one more unit of a good or service. In this scenario, the additional satisfaction of having a tenth shirt to choose from when getting dressed is an example of a marginal benefit. On the other hand, the opportunity cost is the value of the next best alternative forgone, which in this case would be the new smartphone that could have been purchased with the $30 instead of the tenth shirt.

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