A consumer’s demand curve for a product is downsloping because:.a. total utility falls below marginal utility as more of a product
A consumer's demand curve for a product is downsloping for several reasons:
a. Total utility falls below marginal utility as more of the product is consumed.
b. The perceived value of time decreases as consumption of the product increases.
c. Marginal utility diminishes with each additional unit of the product consumed.
d. The income and substitution effects precisely offset one another.
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