Namjoon04
Namjoon04 Namjoon04
  • 06-06-2022
  • Social Studies
contestada

What is the effect of diminishing marginal utility on quantity demanded?

Respuesta :

matsunadafrance matsunadafrance
  • 06-06-2022

Answer:

it's Good

Explanation:

Because marginal utility diminishes as the quantity of a good is consumed increases (the law of diminishing marginal utility), buyers are willing and able to pay lower prices for larger quantities (the law of demand). Hence, the law of demand exists because the less satisfaction is received for larger quantities.

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