Question

explain inverse relationship between price and quantity demanded of a commodity on the basis of law of deminising marginal utility​

Answer 1

Answer:

Thus, the price of a product and the quantity demanded for that product have an inverse relationship, as stated in the law of demand. An inverse relationship means that higher prices result in lower quantity demand and lower prices result in higher quantity demand.

Explanation:

Answer 2

Answer:

The inverse relationship between price of a commodity and its quantity demanded is explained by law of demand. The Law of Demand states that while other things remaining constant, the quantity of a good demanded increases with a fall in the price and diminishes when the price increases..