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10. The demand curve shows the relationship between: A. consumer income and quantity demanded, of which consumer income is the independent variable B. price and production costs, of which price is the independent variable C. price and quantity demanded, of which price is the independent variable on the vertical axis D. consumer preferences and quantity demanded, of which quantity demanded is the dependent variable E. the price of a certain product and the price of another closely related product 11. Graphically, the market demand curve is: A. steeper than any individual demand curve that comprises it B. greater than the sum of the individual demand curves C. the horizontal sum of individual demand curves D. the vertical sum of individual demand curves E. less than the sum of the individual demand curves 12. The demand curve for chocolate shifts to the right if: A. the price of chocolate increases B. medical studies conclusively find that chocolate helps fight migraines C. consumers expect the price of chocolate to fall in the future D. the government imposes a new tax on milk E. the price of chocolate decreases 13. The law of diminishing marginal utility states that: A. total utility is maximized when consumers obtain the same amount of utility per unit of each product consumed B. price must be increased to encourage businesses to supply more of a product C. price must be lowered to induce businesses to supply more of a product D. it takes increasingly larger amounts of resources, beyond a particular point, to produce successive units of a product E. additional units of a given product yield less and less extra satisfaction to a consumer