Question

The demand curve is downward-sloping because: Check all that apply. as prices rise, the purchasing power of each dollar earned falls, and consumers are willing and able to buy more of a good. as consumers purchase substitutes, the quantity demanded of the good rises. as consumers purchase substitutes, the quantity demanded of the good falls. the benefit of consuming more of a good rises with each additional unit, so the □ price consumers are willing and able to pay also falls with increased consumption. as prices rise, the purchasing power of each dollar earned falls, and consumers are willing and able to buy less of a good. the benefit of consuming more of a good falls with each additional unit, so the price consumers are willing and able to pay also falls with increased consumption. Do you know thu ans v No Iden

Answer 1

As consumers purchase substitutes, which is a related good, quantity demanded for the good falls.

As prices rise, the purchasing power of the dollar falls and the consumers are willing and able to pay less for the good.

The benefit of consuming more of a good falls with each additional unit, so consumers are willing and able to buy less of the good. The law of diminishing marginal utility.