The extra benefit from consuming pizza is the benefit received from consuming __

Question

The extra benefit from consuming pizza is the benefit received from consuming ________. It is measured by the most that people are willing to pay for ________.



a. as much as there is available; the total amount consumed

b. one additional slice of pizza; more of it

c. more of your preferred toppings; less of it

d. one additional slice of pizza; an additional unit of pizza

A situation in which resources are unutilized is represented in a production possibilities frontier diagram by



a. a point outside the production possibilities frontier.

b. a point inside the production possibilities frontier.

c. a point above or to the right of the production possibilities frontier.

d. a point at the origin.

Given the information in the following table, which one of the following statement is true?

Production for one month by Claire and Matthew

Explanation / Answer

c

b

d

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