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remmylp remmylp
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A year ago
Which of the following examples best describes the concept of diminishing marginal benefit?

▸ If the weather gets cold, the demand for ice cream will fall.

▸ If a seller of notebooks in a perfectly competitive market charges above the market price, his profit decreases.

▸ With each additional pen Jill buys, her willingness to pay for another pen decreases.

▸ Each additional unit of ice cream that John consumes gives him more and more satisfaction.
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Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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CrazyW27CrazyW27
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A year ago
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