Economy, asked by aryanchum46, 8 months ago

law of demand is based on the law of dimishing marginal utiliy

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Answered by ranjanasri2232
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The law of diminishing marginal utility - AmosWEB is Economics ... The law of diminishing marginal utility helps 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, hence demand price is inversely related to quantity demanded, which is the law of demand.

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