Post Utme Bells University 2023 Commerce Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Bells University Commerce examination.

Post Utme Bells University 2023 Commerce Objective / Multiple Choice
Question 21 POST_UTME_BELLS_UNIVERSITY • 2023 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility leads to a decrease in the marginal utility of the last unit consumed. What is the consequence of this decrease on the demand curve?

Answer Options

A. The demand curve shifts to the left.
B. The demand curve shifts to the right.
Correct Answer C. The demand curve remains unchanged.
D. The demand curve becomes perfectly inelastic.
Correct Answer
C
Correct Option:
The demand curve remains unchanged.

About This Question

This is Post Utme Bells University 2023 Commerce Question 21. It is one of the objective questions from the 2023 Post Utme Bells University Commerce examination.

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