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The negative slope of the demand curve is best explained by

Economics
WAEC 2024

The negative slope of the demand curve is best explained by

  • A. consumer's choice.
  • B. increasing returns to scale
  • C. diminishing returns to scale
  • D. diminishing marginal utility.
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Correct Answer: Option D
Explanation

D: The law of diminishing return ex- plains which the quantity and price are negatively related to as one increase, the other falls. That is the reason for downward sloping demand curve.

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