Refer to the graph in the previous problemWhen the economy moves from Point A to Point B in the diagram above:

Explain the Law of Diminishing Returns and illustrate with an example that is relevant to you.  Remember to use your own words.

The general pattern that consumption of the first few units of any good tends to bring a higher level of________________ to a person than consumption of later units is a common pattern.

Philosophers draw a distinction between__________________, which describe the world as it is, and normative statements, which describe how the world should be.

Attending college is a case where the ________________ exceeds the monetary cost. 

the lesson of ________________ is to forget about the money that’s irretrievably gone and instead to focus on the marginal costs and benefits of future options

_________________________ are enacted when discontented sellers, feeling that prices are too low, appeal to legislators to keep prices from falling

The downward slope of the demand curve again illustrates the pattern that as _____________ rises, ______________ decreases. 

Any given dmeand or supply curve is based on the ceteris paribus assumption that

In terms of reasons for an individual to resist change, a belief that your plan is flawed may be the best possible reason.  Please explain why this is true and try to be complete in your answer.