WAEC - Economics (2012 - No. 9)
The demand curve for a commodity is downward sloping because the consumer will pay
less as the marginal utility falls
more as the marginal utility falls
less as the total utility falls
more as the average utility falls
Εξήγηση
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