The added satisfaction that a consumer gets from having one more unit of a good or service. The added satisfaction that a consumer gets from having one more unit of a good or service. Marginal Benefit Utility Marginal Utility I

Here are the answers to your questions based on economic concepts:

**Marginal Utility**: The added satisfaction that a consumer gets from having one more unit of a good or service.  
   
**Scarcity**: The inability to satisfy all wants at the same time. All resources and goods are limited. This requires choices to be made. 

**To gain the most satisfaction possible**: This is what it means to maximize utility. 

**Scarcity**: The situation in which newly discovered recordings that exist but are limited in number (only a few available for auction).

**Scarcity**: This term results in our necessity to make trade-offs.

**Someone who has one bicycle will have less use for another**: This is the best example of diminishing marginal utility.

**John has six shirts and is trying to decide the value of buying a seventh**: This statement best illustrates how diminishing marginal utility impacts consumer decisions.

**Finishing the book**: This is her opportunity cost because it's the value of the next best alternative she is giving up.

**Anticipated benefits**: Economists assume people choose something when its expected costs are less than its anticipated benefits.

**Rise**: When demand exceeds supply, prices rise.

**Future Consequences Count**: This example illustrates recognizing future consequences of a present decision.

**True**: The formula for productivity is indeed Inputs/Outputs (Inputs over Outputs).

**Must make choices**: Because people have unlimited wants and limited resources, they must make choices.

**Future Consequences Count**: This example describes considering future consequences of leaving work early.

**False**: Utility is typically defined as the satisfaction derived from consuming a good or service, while "total utility" refers to the total satisfaction received.

**Cost vs. Benefit**: This example illustrates weighing the cost (not being good at cutting hair) against the benefit (getting a professional haircut).

**WHAT TO PRODUCE? HOW TO PRODUCE? FOR WHOM TO PRODUCE?**: These are the three basic questions of every economic system.

**True**: Whatever choice is made, the alternative given up is indeed the opportunity cost.

**Incentives Matter**: This illustrates how a financial incentive (double pay) affects decision-making.

**Incentives**: The example illustrates a reward for good performance (money for an "A" in Math class).

Feel free to ask if you have more questions!