Explain the law of diminidhing returns whith a relevant example

Question: How do different economic systems (e.g.. capitalism, socialism) allocate resources? Don't usechatgpt please provide valuable answer otherwise be ready for disupvote

Use the information in the table to answer the below question.                       Production Possibilities Frontier         Number of hours worked   Total benefit   Total cost       0        0     0 10    300 100 20    550 210 30    750 340 40    900 500 50 1,000 700   Christian delivers pizza using his own car and is paid according to numbers of boxes that he delivers. Use marginal analysis to determine the optimal number of hours that he should work.

Which of the following statements do you think reflect soundeconomic thinking? Explain your answer.a. “I paid $400 for this economics course. Therefore, I’m goingto attend the lectures even if they are useless and boring.”b. “Because we own rather than rent, and the house is paidfor, housing doesn’t cost us anything.”c. “I own 100 shares of stock that I can’t afford to sell untilthe price goes up enough for me to get back at least myoriginal investment.”d. “Private education is costly to produce, whereas publicschooling is free.”