CameraIcon

SearchIcon

MyQuestionIcon

13

You visited us 13 times! Enjoying our articles? Unlock Full Access!

Reasons for Downward Sloping Demand Curve

Marginal util...

Question

Marginal utility is a function of ________.

A

Demand

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

Supply

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Cost

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Consumption

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Demand
Marginal utility is a function of demand. It explains why the demand curve of a commodity is downward sloping. As the marginal utility derived from the commodities goes on decreasing, the demand curve takes a downward slope.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Marginal utility of a commodity is:

Q. ________ utility is the sum of the marginal utilities from the consumption of a commodity.

Q. Diminishing marginal utility is a universal phenomenon.

Q. Identify which of the following statement is correct and which is incorrect.
A. The marginal utility of a good increase, if the want of the consumer is intensified by consuming a very small quantity of it such as a very little quantity of water given to a very thirsty person.

B. The law of diminishing marginal utility states that as the stock of a commodity decreases with the consumer, its marginal utility to the consumer decreases.

Q. Law of Diminishing Marginal Utility states that when more and more units of a commodity are consumed, marginal utility:

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

The Buyer’s Problem

ECONOMICS

Watch in App

explore_more_icon

Explore more

Reasons for Downward Sloping Demand Curve

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon