Explain how the law of diminishing marginal utility is related to the law of demand
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The law of diminishing marginal utilityhelps to explain the negative slope of the demand curve and the law of demand. ... If the satisfaction obtained from a good declines, then buyers are willing to pay a lower price, hencedemand price is inversely related to quantity demanded, which is the law of demand.
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The law of diminishing marginal utilityhelps to explain the negative slope of the demand curve and the law of demand. ... If the satisfaction obtained from a good declines, then buyers are willing to pay a lower price, hencedemand price is inversely related to quantity demanded, which is the law of demand.
hope this answer helps you
please mark it as brainliest
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