Question

According to the concept of diminishing marginal utility, consumers will

purchase more of a good when the price falls because

Answer 1

The concept of utility

Step-by-step explanation:

According to the concept of diminishing marginal utility, consumers will purchase more of a good when the price falls only in the situation when perceived benefits from the consumption of the good exceed the price. When consumers realize that the perceived benefits are no more worth spending, the quantity demanded of the particular good will decrease.