An individual demand curve slopes downward to the right because of the: Options: A . &nbspWorking of the law of diminishing marginal utility B . &nbspSubstitution effect of decrease in price C . &nbspIncome effect of fall in price D . &nbspAll of the above

An individual demand curve slopes downward to the right because of the:

Question

An individual demand curve slopes downward to the right because of the:

Options:

A . Working of the law of diminishing marginal utility

B . Substitution effect of decrease in price

C . Income effect of fall in price

D . All of the above

Answer: Option D
:
D
All three are reasons why an individual demand curves slopes downward to the right.

Was this answer helpful ?

Next Question

Question 1. For a normal good with a downward sloping demand curve:....

Question 2. Average income increases from INR 20,000 p.m. to INR 22,000 p.m. Quantity demanded per month increases from 50....5000 to 6000 units. Which of the following is correct?

Question 3. Which of the following pairs represent substitute goods?....

Question 4. The price decreases from INR 2,000 to INR 1,800. Quantity demanded per year increases from 5000 to 6000 units.....5000 to 6000 units. Which of the following is correct?

Question 5. Demand for which of the following goods does not change with a change in income of the consumer?....

Question 6. Which of the following statements about price elasticity of demand is INCORRECT?....

Question 7. Individual demand refers to the quantity of the commodity that a consumer is able and willing to buy at each possible pr....at each possible price during a given period of time.

Question 8. In case of contraction of demand, we move:....

Question 9. As a result of rise in consumer's income, demand curve for coarse grain (inferior good):....

Question 10. When the price of the substitute goods rise then demand for a given commodity ___....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

Tabulation - Test Paper 2 Data Interpretation Reasoning & DI

Test Paper 1 Direction Sense Test Reasoning & DI

ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0

GFM Combined 1 Free Revision Test SAIL JO E-0