The marginal Net Benefit of fourth unit is -50.
What is Marginal net benefit?
- The utmost price a buyer will pay for an additional commodity or service is known as the marginal benefit.
- A marginal advantage is also the extra satisfaction a customer experiences after buying the extra commodity or service.
- The marginal benefit often declines with rising consumption.
- Consumer surplus refers to the willingness of a consumer to pay more than the going rate for a commodity or service.
- Any essential products, like medicine, do not lose some of their marginal benefits over time.
- Businesses can use the marginal benefit analysis they do to determine the ideal price point for the deal.
Marginal net benefit is the difference between marginal benefit and marginal cost.
Marginal net benefit = Marginal Revenue – Marginal Cost
Marginal Revenue = Changes in TR/ Change in number of Units
Marginal Cost = Changes in TC / Change in number of Units
At 4th unit, the MR = (290-250)/(4-3)=40
At 4th unit, the MC = (270-180)/(4-3)=90
So, the marginal net benefit = 40–90 = -50
Therefore, the marginal net benefit of fourth unit is -50.
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