Which of the following statements is FALSE? O a. The maximum price people are willing to pay for one more unit of a good is its value. O b. Agood's marginal benefit is the maximum price people are willing to pay for another unit. Oc. The value of one more unit of a good is the good's marginal benefit. O d. None of the above because all the statements are true.

Which of the following statements is FALSE? O a. The maximum price people are willing to pay for one more unit of a good is its value. O b. Agood's marginal benefit is the maximum price people are willing to pay for another unit. Oc. The value of one more unit of a good is the good's marginal benefit. O d. None of the above because all the statements are true.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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