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Which of the following characteristic lead to a downward-sloping demand curve? 
 
a) Increasing opportunity costs
 
b) Increasing marginal benefit
 
c) Diminishing preferences for a particular good
 
d) A decline in the price of a related good
 
e) Diminishing marginal utility.

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Casey Durgan
Casey DurganLv2
24 Mar 2020
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Related questions

According to the utility model of consumer demand, the demand curve is downward sloping because of the law of

a. diminishing marginal utility.

b. diminishing consumer equilibrium.

c. consumer equilibrium.

d. diminishing utility maximization.

1. If marginal utility is negative, total utility is

a. Positive

b. Negative

c. Decreasing

d. Constant

e. Increasing

2. If utility-maximizing consumers face identical prices, they will have identical

a. Marginal utilities for each good

b. Ratio of marginal utilities for each good

c. Preferences

d. Ratios of total utilities for each good

e. Total utilities for each good

3. The substitution effect

a. Always increases quantity demanded of a good whose relative price has fallen

b. Is opposite in sign to the income effect for all normal goods

c. Is opposite in sign to the income effect for all normal goods

d. May cause demand curves to be upward sloping

e. Is always dominated by the income effect for normal goods

4. Demand curves for normal goods slope downward because

a. The substitution effect of a price change is greater than the income effect

b. Substitution and income effects work in the same direction

c. The income effect is always greater than the substitution effect

d. The income effect is always less than the substitution effect

e. None of the above

5. The idea that a consumer derives less additional satisfaction from consuming successive units of a good is called

a. Diminishing consumer surplus

b. The paradox of value

c. Diminishing marginal utility

d. Diminishing total value of consumption

e. Diminishing total utility

When the opportunity cost of producing a good rises as someone produces more of it, one experiences:
 
a. normative economics
 
b. increasing relative costs
 
c. downward-sloping demand.
 
d. inferior goods.
 
e. increasing marginal utility.

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