Economy, asked by zaynzoey345, 5 months ago

why does the quantity demand of a commodity decreases when the price rise and the for supply of a commodity decreases when its price increases

Answers

Answered by sneha364152

Answer:

Quantity demanded and price are inversely related this means that as the price of the goods increase the demand of that commodity decreases and vice versa. This is because of the law of diminishing marginal utility.

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