The _____ of a good or service is the additional benefit derived from producing one more unit of that good or service. Group of answer choices net benefit marginal benefit marginal cost utility
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QUESTION 5 Opportunity cost can best be defined as the value of the best alternative foregone when the alternative at hand is chosen: cost of the resources used to produce a good or service. Money cost of a good or service. Money cost plus interest on money borrowed to buy a good or service.
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What is the best definition of marginal cost? the possible income from producing an additional item. the price of producing one additional unit of a good. the additional income gained from selling an additional good. the financial gain from business activity minus expenses.
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A positive externality or spillover benefit (additional social benefit) occurs when: a. Product differentiation increases the variety of products available to consumers. b. Firms earn positive economic profits. c. The benefits associated with a product exceed those accruing to people who consume it. d. A firm does not bear all of the costs of producing a good or service.
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