Be sure to watch the recording related to this topic. Share your thoughts on the following questions. Assignment No. 1 Final Term Basic Microeconomics 1. What happens if your allowance increases from P 150.00 / day to P 250.00 lday. Would you change your taste and preference, or would you stick with your old consumption patterns? 2. Why do some people buy expensive branded things even if they cannot afford them? 3. Can we apply the law of diminishing marginal utility to money? Explain your answer. 4. Explain the optimum combination from the Consumer's behaviortheory