Which of the following is true of the well-being of a consumer as represented by a demand curve?

Question

Quizplus · Accepted Answer

The well-being of a consumer as represented by a demand curve varies along the curve. As price decreases, the consumer's well-being increases because they are able to purchase more of the good or service. However, at some point, the consumer may reach a point of saturation where additional units have decreasing marginal utility, and their well-being may start to decrease again. Therefore, the shape of the demand curve reflects the consumer's changing well-being as the price and quantity of the good or service changes.

Which of the Following Is True of the Well-Being of a Consumer