Match the definitions with the terms that most closely align with the description. 1. The cost of producing one more unit of a good or service: 2. The situation where an additional unit of a good or service costs the same as each of the former units:.3. The benefit experienced from undertaking one more unit of an activity:. 4. A situation where the expense of producing one more unit of a good or service is greater than that of producing the previous unit:. 5. The amount that, when produced or consumed, results in the greatest possible net gain:.6. The situation that occurs when the gain from an additional unit of a good or service is less than that gained from producing the previous unit:.a. decreasing marginal benefit b. increasing marginal cost c. marginal cost d. marginal benefit constant e. marginal cost f. optimal quantity

1. Marginal Cost

2. Constant Marginal Cost

3. Marginal Benefit

4. Increasing Marginal Cost

5. Optimal Quantity

6. Decreasing Marginal Benefit

Explanation:

Note: In the given question, an option has been wrongly mentioned as "Marginal benefit constant." It should be read as "Marginal cost constant". This solution has been provided based upon the said assumption.

Marginal Cost refers to additional cost incurred when an additional unit is produced.

Constant marginal cost refers to a situation wherein the cost incurred for producing successive units remains the same.

Marginal Benefit refers to the the extra utility derived upon consumption of an extra unit of a product.

Increasing Marginal Cost refers to a situation wherein the extra cost incurred follows an increasing trend as successive units are produced.

Optimal Quantity is defined as the quantity whose production or consumption maximizes the gain whether in the form of utility or in monetary terms.

Decreasing Marginal benefit refers to the situation wherein extra utility derived from successive consumption of units falls.

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