A marginal benefit is a maximum amount a consumer is willing to pay for an additional good or service.
The goal of marginal benefit is to continue to make a profit even after a majority of consumers have already purchased the product.
Formula to calculate marginal benefit.
Example:
Suppose after consuming the first ice cream, you consume the second one and the benefit derived is 10 more than that of the first ice cream. Calculate the marginal benefit of the consumer.
Therefore, the marginal benefit of the first ice cream and the second one is 10.
