Match the concepts in Column A with their descriptions in Column B.
| Column A | Column B | ||
| A | Law of Diminishing Marginal Utility | 1 | Relies on the assumption that utility can be measured accurately |
| B | Law of Equi-Marginal Utility | 2 | A logical consumer divides their income among different products so that the marginal utility of each dollar spent is the same |
| C | Consumer Surplus | 3 | The economic advantage gained when the price paid is less than the maximum willingness to pay |
| D | Criticism of Law of Diminishing Marginal Utility | 4 | Fundamental to the analysis of consumer behavior, explaining how satisfaction diminishes as consumption increases |
1
A-(4), B-(2), C-(3), D-(1)
2
A-(3), B-(1), C-(4), D-(2)
3
A-(1), B-(3), C-(2), D-(4)
4
A-(2), B-(4), C-(1), D-(3)