What do we call the increase in satisfaction from consuming one more unit of a good?

The concept described in the question refers to the additional satisfaction or pleasure that a consumer derives from consuming one more unit of a good, which is aptly termed "marginal benefit." When making consumption choices, individuals often evaluate the benefits received from each additional unit consumed. This helps to determine whether it is worth the cost of acquiring that additional unit.

Marginal benefit is a crucial concept in economics as it illustrates the diminishing returns that can occur as consumption increases. As consumers acquire more of a good, the additional satisfaction from each subsequent unit typically decreases. Understanding this concept allows for better decision-making concerning resource allocation.

Total utility refers to the overall satisfaction derived from consuming a total quantity of goods, while consumer surplus is the difference between what consumers are willing to pay for a good versus what they actually pay. Utility cost is not a commonly used term in economics. Therefore, the term that most accurately captures the increase in satisfaction from the consumption of an additional unit is indeed marginal benefit.