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The marginal value of a good is the dollar value that the consumer receives, on average, from each unit of the good purchased. True or fFalse

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Final answer:

The marginal value of a good is the dollar value that the consumer receives, on average, from each unit of the good purchased. This statement is true.

Step-by-step explanation:

Economics: Marginal Value of a Good

The statement that 'The marginal value of a good is the dollar value that the consumer receives, on average, from each unit of the good purchased' is true. Marginal value refers to the additional value or utility a consumer obtains from consuming one more unit of a good. It is calculated by dividing the additional utility gained by the additional cost incurred.

For example, if a consumer values a $10 shirt with a marginal utility of 8 utils, the marginal value per dollar spent is 8/10 = 0.8 utils per dollar.

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