WAEC Economics 2012 Objective — Question 9
Question 9 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.
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The demand curve for a commodity is downward sloping because the consumer will pay
- A. less as the marginal utility fallsCorrect
- B. more as the marginal utility falls
- C. less as the total utility falls
- D. more as the average utility falls
Explanation
One of the reasons why the demand curve sloped downward is because of the law of diminishing marginal utility.
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