The Demand Curve Is Downward-Sloping Because of the Law of

question 24

Multiple Choice

The demand curve is downward-sloping because of the law of

• A) diminishing marginal utility.
• B) diminishing consumer equilibrium.
• C) consumer equilibrium.
• D) diminishing utility maximization.

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Definitions:

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Social influence that leads to conformity, motivated by the desire to adhere to the expectations of others or to gain social approval.

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Portable bags carried on one's back and secured with two straps that go over the shoulders, used for carrying items.