Question

Effective decision-making means comparing the additional costs of alternatives with the ________. a Total costs b Diminishing utility c Marginal benefits

Answer 1

Effective decision-making means comparing the additional costs of alternatives with the marginal benefits.

 

To add, a marginal benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service. It is also the topmost amount he is willing to pay to consume that additional unit of a good or service.

Answer 2

marginal benefits is the answer