The law of demand (downward-sloping demand curve)is based on the idea of
a. maximum total utility
b. minimum marginal utility
c. total utility divided by quantity of the good consumed
d. law of diminishing marginal utility
e. consumers minimize total utility
D
Economics
You might also like to view...
Tariffs ________ consumer surplus and import quotas ________ consumer surplus
A) decrease; decrease B) increase; increase C) decrease; increase D) increase; decrease
Economics
Average variable costs:
A. decrease, then increase as output increases. B. increase, then decrease as output increases. C. always trend upward as output increases. D. always trend downward as output increases.
Economics