1. Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket
greater than, less than, or equal to $10? How might you determine that value?

2. If you were hired as a consultant for the concert, how would you determine how much to sell the tickets for using your degree in economics?

3. As a consumer, what would you rather maximize, your total or marginal utility?

4. Explain your reasoning to an actual example.