Diminishing marginal utility explains why
A)the income effect exceeds the substitution effect.
B)the substitution effect exceeds the income effect.
C)supply curves are upsloping.
D)demand curves are downsloping.

Question

Quizplus · Accepted Answer

Diminishing marginal utility explains why demand curves are downsloping, as it suggests that the more of a good or service a consumer has, the less they will want additional units, leading to a lower willingness to pay for more.

Diminishing Marginal Utility Explains Why