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djyliett [7]
3 years ago
10

What characteristics lead to a downward sloping demand curve?

Mathematics
1 answer:
Makovka662 [10]3 years ago
7 0
In economics, the downward sloping demand curve is used to illustrate the law of diminishing marginal utility. This means that if more of the product is consumed, the marginal benefit to the consumer falls. This is also the instance in which the consumers are willing to pay less than the original amount for the same product. 
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Answer:

$1.25

Step-by-step explanation:

This can best be determined using a set of linear equations that are solved simultaneously.

This pair of linear equations may be solved simultaneously by using the elimination method. This will involve ensuring that the coefficient of one of the unknown variables is the same in both equations.

Let the cost of a cookie be c, cost of a doughnut be d and that of a box of doughnut hole be h then if cost of 4 cookies, 6 doughnuts, and 3 boxes of doughnut holes is $8.15, we have

4a + 6d + 3h = 8.15

and the cost of 2 cookies, 3 doughnuts, and 4 boxes of doughnuts holes is $7.20 then

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subtracting from the second equation

2.5h = 3.125

h = 1.25

The cost of a box of doughnut holes is $1.25

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Step-by-step explanation:

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