The demand curve for a commodity is downward sloping because the consumer will pay

Economics

WAEC 2012

A. less as the marginal utility falls
B. more as the marginal utility falls
C. less as the total utility falls
D. more as the average utility falls

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Your School's Whatsapp Group - Join Us now

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Correct Answer: Option C

Explanation

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

Previous Next

Go back to Econs classroom

Report an Error Ask A Question Download App