Question

An individual demand curve slopes downward to the right because of the ______.

• 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 1

The correct option is D all of the above

An individual demand curve slopes downward to the right because of the :-
Working of the law of diminishing marginal utility.

• Substitution effect of decrease in price.
• Income effect of fall in price.