Complete the missing items in the following chart:
Definitions:
Marginal Benefit
The additional satisfaction or utility that a person receives from consuming one more unit of a good or service.
Total Utility
The overall level of satisfaction or fulfillment a consumer receives from consuming a specific quantity of a good or service.
Income Effect
The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Purchasing Power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
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