A Consumer's Demand Curve for a Product Is Downsloping Because

question 56

Multiple Choice

A consumer's demand curve for a product is downsloping because

• A)total utility falls below marginal utility as more of a product is consumed.
• B)marginal utility diminishes as more of a product is consumed.
• C)time becomes less valuable as more of a product is consumed.
• D)the income and substitution effects precisely offset each other.

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