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Which of the following shows why individual demand curve for a good usually slopes downward...

Economics
JAMB 2023

Which of the following shows why individual demand curve for a good usually slopes downward from left to right?

  • A. More of commodities are offered for sale at a lower than higher prices
  • B. Marginal utility falls as consumption increases
  • C. The higher the price, the higher the quantity offered for sale
  • D. Prices are usually falling when demand is low
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Correct Answer: Option A
Explanation

A normal demand curve slopes downward from left to right indicating at higher price, less quantity will be demanded and vice versa.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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