You have figured out the marginal benefits of buying an extra smoothie in two to three sentences describe how you would use these measurements to make a decision that leaves you better off

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21-09-2018
Social Studies

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You have figured out the marginal benefits of buying an extra smoothie in two to three sentences describe how you would use these measurements to make a decision that leaves you better off

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palebadgworthy palebadgworthy · Answer 1 · 2018-09-21T10:00:55+02:00

The marginal benefit is a measurement of the amount of satisfaction obtained from consuming an extra unit of a good or service. Satisfaction in consumer theories is called utility.

In order to perform the purchase, the benefit obtained has to be greater than the cost endured. This is the condition for the consumer to be better off after buying. Therefore, the marginal benefit equals the maximum amount of money that a person is willing to pay for a certain good or service.

hodxav0920A hodxav0920A · Answer 2 · 2021-02-22T19:01:09+01:00

hodxav0920A hodxav0920A

22-02-2021

Answer:

I must first get the marginal cost of the product before I buy it to see if it is worth it. Next, I would compare the marginal benefit to know what I gain from this product. Lastly, I would compare both the marginal cost and marginal percentage to see if the cost is outweighs the benefits and make my decision based on those findings.

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