The negative slope of the demand curve is best explained by

Economics

WAEC 2024

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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The negative slope of the demand curve is best explained by

Correct Answer: Option D

Explanation

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