Problem
1. What is meant by the term "utility" and how does the idea relate to purposeful behavior?
2. KEY QUESTION Cite three examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit.
3. What are the key elements of the scientific method and how does this method relate to economic principles and laws?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.