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Q1 & 2 please Question 1 4.16 pts The law of diminishing marginal utility states that, after some point: O people should spend all of

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Q1 & 2 please

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Question 1 4.16 pts The law of diminishing marginal utility states that, after some point: O people should spend all of their income on one good. O the more we buy of something, the more it costs. O the more we consume of something, the less each additional unit adds to our satisfaction. O the more we consume of something, the smaller the total satisfaction received from that good. Question 2 4.16 pts The distance between the demand curve and the price the consumer has to pay for a product (given quantity demanded) is referred to as: O market shortage. O producer surplus. O consumer surplus. O market surplus

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