As we move downward along a demand curve for apples,

Question

Quizplus · Accepted Answer

According to the law of diminishing marginal utility, as more units of a good are consumed, the additional utility, or satisfaction, derived from each additional unit decreases. Therefore, the marginal utility of apples decreases as we move downward along a demand curve for apples. Option A is not true as consumer well-being is assumed to increase with the consumption of goods that provide utility. Option C is not true as the marginal utility of a good decreases as we consume more of it, not increase.

As We Move Downward Along a Demand Curve for Apples