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Sagot :
The marginal benefit for Jane is $80. The cost of the shoes is $50 but still Jane is willing to buy them for $80.
The marginal benefit can be described as the maximum amount a person is willing to pay for that additional good or product. The marginal benefit usually reduces with the increase in consumption of the product. Utility can be defined as the satisfaction the person will get by consuming that good or service.
The marginal benefit usually declines when the person buys more of a product. For example, Jane was willing to pay $80 for a pair of shoes. Maybe another pair of shoes of the same kind she will not be willing to spend that much as she already has a pair of shoes. So when the customers keep on buying the same product the marginal benefit will reduce.
Learn more about marginal benefits here:
https://brainly.com/question/24543287
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