Solved UPSC CDS/OTA Question
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Q · Demand and SupplyMedium · 45s
Which of the following explains the downward slope of the demand curve? 1. Law of Diminishing Marginal Utility 2. Substitution Effect 3. Income Effect
TopicDemand and Supply
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
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All three factors explain why the demand curve slopes downward.
Final Answer: Option D — 1, 2 and 3