Q ECO 2023 Instructor: Photo Essay 2 Due Date: We talked about The Law of Diminishing Marginal Utility, which can explain a number of interesting real-world situations. Please pick one example from your daily life and explain it briefly. Please do not use the examples in the lecture notes! You can take photos by yourself or use pictures from the internet. If you use someone else’s pictures, please include the link. Under each photo, please explain in two to four sentences why you picked this photo. Photo Essay 2 is worth 5 points. No late submission will be accepted without a documented excuse. You must combine everything into one file (Word, PDF, or Excel). You cannot upload photos directly to Canvas. Thank you! Example: Unlimited minutes on cell phone plans Source: http://images.macworld.com/images/article/2011/10/familyvoiceplans-256916.png Explanation: Cell phone companies rely on the diminishing marginal utility of conversation. They offer “unlimited” plans because they know that consumers will not stay on their phones indefinitely.