The marginal benefit of a slice of pizza is the:

• A. cost of producing one more slice of pizza
• B. average benefit received from each slice of pizza
• C. additional satisfaction or utility gained from consuming one more slice of pizza
• D. total satisfaction received from all slices of pizza consumed

Answer: (C)

Verified step by step guidance

1. Understand the concept of marginal benefit: it refers to the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.
2. Recognize that marginal benefit is not the cost of producing the good; that concept relates to marginal cost, which is different.
3. Distinguish marginal benefit from average benefit, which is the total benefit divided by the number of units consumed, rather than the benefit of an additional unit.
4. Note that total satisfaction is the sum of all benefits from all units consumed, not the incremental benefit from one more unit.
5. Conclude that the marginal benefit of a slice of pizza is the additional satisfaction or utility gained from consuming one more slice.