The marginal benefit of a slice of pizza is the:

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

Answer: (B)

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 related to the cost of producing the good; instead, it focuses on the consumer's perspective and the extra benefit they receive.
3. Distinguish marginal benefit from total satisfaction, which is the sum of all satisfaction from all units consumed, not just the additional one.
4. Differentiate marginal benefit from average benefit, which is the total benefit divided by the number of units consumed, rather than the benefit from the next unit.
5. Conclude that the marginal benefit of a slice of pizza is the additional satisfaction or utility gained from consuming one more slice.