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

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

  1. Working of the law of diminishing marginal utility
  2. substitution effect of decrease in price
  3. income effect of fall in Price
  4. All of the above

Answer: All of the above

We will be happy to hear your thoughts

Leave a reply

Gkseries.com
Logo
Register New Account