An individual's demand curve slopes down because
A. the value of the marginal utility falls as the price falls.
B. marginal utility falls as price falls.
C. of the law of diminishing marginal utility and the rule of equal marginal utilities per dollar.
D. of the rule that the marginal utility of the last unit must equal the price.
Answer: C
Economics
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On Thanksgiving, Jake's mother gives him a huge platter of food. If Jake were to keep eating just to please his mother (even when he really wanted to stop long ago), his marginal utility of eating that last bite would be
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Economics