A consumer\'s demand curve for a product is downslopingbecause: A.total utility

Question

A consumer's demand curve for a product is downslopingbecause: A.total utility falls below marginal utility as more of aproduct is consumed. B.marginal utility diminishes as more of a product isconsumed. C.time becomes less valuable as more of a product isconsumed. D.the income and substitution effects precisely offset eachother. A consumer's demand curve for a product is downslopingbecause: A.total utility falls below marginal utility as more of aproduct is consumed. B.marginal utility diminishes as more of a product isconsumed. C.time becomes less valuable as more of a product isconsumed. D.the income and substitution effects precisely offset eachother.

Explanation / Answer

B. Marginal utility diminishes as more of a product isconsumed.

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