Economics · Consumer Behavior
What does the Law of Diminishing Marginal Utility express?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Provides a measure of elasticity
- 2Explains why the demand curve slopes downwards✓
- 3Tells that marginal utility decreases as price increases
- 4None of the above
Correct answer
Explains why the demand curve slopes downwards
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