One Reason That Helps to Explain the Law of Demand

question 6

Multiple Choice

One reason that helps to explain the law of demand is the law of

• A) diminishing marginal utility.
• B) diminishing marginal returns.
• C) increasing opportunity costs.
• D) supply.

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Definitions:

Adult Men

Adult men refers to males who have reached the legal age of maturity, which varies by country but is often considered to be 18 years or older.

Adult Women

Refers to females who have reached the age of majority, which varies by country, typically recognized as 18 years and older.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the set.

Furniture Factory

A manufacturing site where raw materials are processed and assembled into furniture for use and sale.