Answer to Question #153795 in Microeconomics for Disket

Question #153795

How are the diminishing marginal utility and negatively sloped demand curve related ?


1
Expert's answer
2021-01-07T08:36:04-0500

As the consumption of the commodity increases the marginal utility decreases.Thus, the consumer will not be willing to pay much for extra unit resulting to demand curve to slope downward.


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