The Law of
Diminishing
Marginal Utility
Demand Curve Shifts with Changes in Income or in Other Goods’ Prices
Demand for Addictive Substances by Hard-Core Users
Demand for Addictive Substances by Casual Users
Because of Diminishing Marginal Utility, Consumer’s Satisfaction Exceeds What Is Paid
Total Consumer Surplus Is the Area Under the Demand Curve and Above the Price Line