The demand curve for a commodity is downward sloping beca...
The demand curve for a commodity is downward sloping because the consumer will pay
Less as the marginal utility falls
More as the marginal utility falls
Less as the total utility falls
More as the average utility falls
Correct answer is C
The demand curve is downward sloping, indicating the negative relationship between the price of a product and the quantity demanded. This means that, consumers consume more or less of the commodity. The consumer will be unwilling to pay for a commodity whose total utility is declining
Short-term loans can be sourced from ...
One of the functions money is that, it helps ...
Personal income tax as a source of government revenue is increased when the ...
The main problem of the Organization of Petroleum Exporting Countries is how to ...
Money becomes a very poor store of value in a period of ...
The effect of an increase in the personal income tax is to ...
Import duties will increase total expenditure on imports, if the demand for imports is ...