Economy, asked by akpal8932, 3 months ago

Demonstrate the relationship between law of diminishing marginal utility and law of demand with suitable diagrams.

Answers

Answered by AnmolJigarChawla

2

Explanation:

The significance of the diminishing marginal utility of a good for the theory of demand is that the quantity demanded of a good rises as the price falls and vice versa. Thus, it is because of the diminishing marginal utility that the demand curve slopes downward

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