What is marginal utility Curve shape ?
A)Downward sloping left to right b)Initally upward , eventually start decline c)U shaped d) None of these
- Rajat
- 30 Aug
- 18 Answers
18 Answers
18 Answers
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. Downward slopping from left to right.
The laws of demand and diminishing marginal utility combine to produce demand curves that predictably flow downward from left to right. The actual market price for a good may change, and that will trigger a change in the number of units sold, but the relationship between demand and price will remain constant—prices and demand will shift in sync with one another along the demand curve.
The law of diminishing marginal utility explains the downward sloping demand curve
Definition
According to Marshall, “The additional benefit a person derives from a given increase of his stock of a thing diminishes with every increase in the stock that he already has”.0Modal content
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