From everyday questions to specialized queries, IDNLearn.com has the answers. Join our platform to receive prompt and accurate responses from experienced professionals in various fields.
Sagot :
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.
Learn more about Economics here:
https://brainly.com/question/14787713
We appreciate your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. IDNLearn.com provides the best answers to your questions. Thank you for visiting, and come back soon for more helpful information.