Which of the Following Is Not an Explanation as to Why

question 59

Multiple Choice

Which of the following is not an explanation as to why the demand curve is negatively sloped?

• A) the law of diminishing marginal utility
• B) the law of increasing total utility
• C) the substitution effect
• D) the income effect

Describe the relationship between marginal cost and average cost, and their implications for cost behavior.

Comprehend the law of diminishing marginal productivity and its implications for output.

Analyze the impact of fixed and variable costs on average costs.

Identify the conditions under which average costs fall or rise due to marginal costs.

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