Help in deciding the correction answer 1.  The Law of diminishing marginal utility explains why a. most individual demand curves are straight lines. b. the consumer;s optimal purchase is at the tangency of an indiffernce  curve and the budget line. c. most individual demand curves slope downward d. marginal utility falls when total utility falls   2. when a firm's price cut produces a smaller than proportional increase in quantity demanded, the demand for its product is   a. elastic b. inelastic c. of unit elasticity d. straight elastic   3. A good will tend to be more price elastic if it  a. luxury good b. no close substitutes c. small part of the household budget d. is a necessity

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