Multiple Choice
The law of diminishing marginal utility gives us a deeper understanding of the downward-sloping demand curve because
A) Consumers are willing to pay a higher price for a greater quantity.
B) Consumer tastes change due to advertising.
C) When marginal utility is high,we are willing to pay a higher price.
D) Consumers do not respond to a change in price.
Correct Answer:
Verified
Correct Answer:
Verified
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