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annyan annyan
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2 years ago
Marginal utility analysis predicts a downward-sloping demand curve for good X because

▸ all demand curves are downward sloping, regardless of the behaviour of consumers.

▸ as PX falls, the ratio MUX/PX becomes smaller, causing the consumer to purchase more of good X.

▸ utility-maximizing consumers equate marginal utility received for each product consumed.

▸ as PX rises, the consumer increases purchases of X such that MUX/PX is equal to MU/P for all other products.

▸ as PX falls, the consumer increases purchases of X until MUX/PX is equal to MU/P for all other products.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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yoorimchiyoorimchi
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annyan Author
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2 years ago
Smart ... Thanks!
foxrcng11
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Yesterday
Just got PERFECT on my quiz
Jose^2
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2 hours ago
Thanks
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