What do we call the increase in total benefit that comes from producing one additional unit?

The increase in total benefit that comes from producing one additional unit is referred to as marginal benefit. Marginal benefit is a key concept in economics that reflects how the total benefit changes as the quantity of a good or service produced varies. It helps in understanding consumer choices and resource allocation, as it quantifies the value that an individual places on one extra unit of a good or service.

For example, if a consumer is willing to pay a certain amount for an additional unit of a product, that amount reflects the marginal benefit of consuming that extra unit. This concept is crucial for making production and consumption decisions, as it allows producers and consumers to assess whether the benefits of additional output outweigh the costs.

On the other hand, total benefit represents the sum of all benefits derived from a certain level of production or consumption, rather than just the change associated with one additional unit. Opportunity benefit is not a standard term; rather, opportunity cost is used to denote the forgone benefit of the next best alternative when making a choice. Net benefit generally refers to the overall advantage gained after subtracting any relevant costs from total benefits, not specifically to the increase from an additional unit.