Economy, asked by akpal8932, 28 days 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

Attachments:

Previous Question

Next Question

Similar questions

Computer Science, 14 days ago

mention three function of NIC according to networking..

Math, 14 days ago

two rational number between -1 and 6 my book answer is 2/3,7/3 but I don't know how please answer my question to solve briefly...

Sociology, 14 days ago

what are the most popular movie series in the World?

Physics, 28 days ago

A current of 1 A is drawn by a filament of an electric bulb. Number of electrons passing through a cross-section of the filament in 16 seconds would be roughly(explain the answer)...

CBSE BOARD X, 28 days ago

"In Europe till 18th century there were no nation-states as we know them today" explain in points...

Geography, 8 months ago

Which Indian state has the largest share of the Wastelands in India? A) Gujarat B) Andhra Pradesh C) Madhya Pradesh D) Rajasthan...

Biology, 8 months ago

The hormone that stimulates heart beat is A) Thyroxine B) Gastrin C) Glycogen D) Dopamine...

English, 8 months ago

In the following question, out of the four alternatives, select the alternative which is the best substitute of the words/sentence. Of or connected with the sense of touch A) Apperception B) Eavesdrop C) Tactile D) Hark...