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Aug 22, 2023 · A marginal benefit is the maximum amount a consumer is willing to pay for an additional good or service, or the incremental satisfaction that a consumer receives when the good or service is purchased. It is often calculated using the slope of the demand curve or a formula. Learn how marginal benefits apply to business, pricing, and research.
- Will Kenton
- 1 min
Aug 9, 2023 · Marginal benefit is the maximum amount a consumer is willing to pay for an additional good or service. Marginal cost is the change in cost when an additional unit of a good or service is produced. Learn how to calculate and compare these measures, and how they apply to business, public policy, and economics.
Learn how to think of demand as a marginal benefit curve, which shows the value of each additional unit consumed. Watch a video and see examples, questions and comments on this topic.
- 6 min
- Sal Khan
- What is the definition of Marginal Benefit?A hint: when you read XXXXX marginal, interpret as XXXXX additional.
- I wonder if a previous video on how to look demand curve as marginal benefit curve is missed. I tota...You should watch everything in https://www.khanacademy.org/science/microeconomics/supply-demand-equilibrium first.
- Can somebody please explain to me what marginal benefits is and give me some examples?Marginal benefit is the added benefit of each additional unit(thing) consumed. For example, You are thirsty. You drink a glass of water. Now that y...
- Where can I find the video Sal mentioned where he introduces PPF?Sal covers the Production Possibility Frontier(PPF) here : http://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tuto...
- I would think that marginal benefit was defined as "the _extra_ benefit gained from increasing the q...Remember that the word "marginal" means "the next one". You're going to want to think in terms of consumers on this one. Let's say you're hungry, a...
- sal gives the p.p.f (production possiable fruntier) as an axemple (3:58), where can i find the relev...http://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/production-possibilities/v/production-possibilities-fr...
- Even if there is 1 car why would the customers gets excited to pay $60 K? Instead they could wait un...That is the whole point of economics, predicting consumer habits. Some of us will wait (I'm assuming you will) but others will want to get the prod...
- So for the 1st unit the marginal benefit would be 60?Yes, it is. Sal does mention that the marginal benefit for the 3rd car is 40 at 3:30 But basically, the marginal benefit for the 3rd consumer is 40...
- What are the 4 factors of production ?Everyone in economics can agree on three: *Land*, *Labor*, and *Capital*. However, it is debated that there is a fourth: *Entrepreneurship* or *Ent...
Marginal benefit is the highest amount that a customer is willing to pay for an extra unit of good or service. It depends on the satisfaction that the customer derives from the consumption of the additional unit. Learn about the types, maximization, and diminishing marginal benefits with examples and formulas.
Generally speaking, marginal benefit is the difference (or change) in what you receive from a different choice. From a consumer’s point of view, marginal benefit is the additional satisfaction of one more item purchased.
Learn how marginal benefit is the maximum amount a consumer is willing to pay for one more unit of a good or service. See how allocative efficiency is achieved when marginal benefit equals marginal cost.
- 14 min
- Sal Khan
Oct 23, 2023 · Marginal utility and marginal benefit are concepts that describe how the usefulness of most goods changes with additional consumption. Marginal utility is the additional happiness or satisfaction that an actor derives from consuming one additional unit of a good, while marginal benefit is the maximum price that an actor is willing to pay for one more unit of the good. Learn how they are related, measured, and used in economic analysis.
