1) Make an example that demonstrates the Law of Diminishing Returns. Why, in this example, do you experience diminishing returns?

2) Think about a situation in your life where you deal with opportunity cost. Remember that for opportunity cost, you will want to consider what you give up, not just the monetary cost of your situation.

Explain the situation/action/good, and describe what you are giving up. You should also consider what the monetary cost is compared to the opportunity cost of your situation.