Adam is a rational economic decision maker who enjoys eating ice cream from local shops. Ice cream is priced by the scoop, such that the marginal cost to Adam of the 3rd scoop of ice cream is $4. If Adam has chosen to eat only 2 scoops of ice cream, which of the following statements is true?

Options:
A. Adam would have had more ice cream scoops if he was looking to maximize his total net benefit.
B. Adam's marginal benefit of consuming the 3rd scoop is less than $4.
C. At this price, no consumer will buy 3 scoops of ice cream.
D. Adam's marginal benefit of consuming the 3rd scoop is greater than $4.

Adam is a rational economic decision maker who has decided to only consume two scoops of ice cream even though the marginal cost of the third scoop is $4. If Adam is choosing not to consume the third scoop, it is reasonable to assume that the marginal benefit he perceives from consuming the third scoop is less than its marginal cost. Therefore, the correct statement is that Adam’s marginal benefit of consuming the 3rd scoop is less than $4. This is because a rational consumer will only purchase an additional unit of a product if the additional utility derived from it (marginal benefit) exceeds the cost of consuming (marginal cost) one more unit.

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