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Rama09 [41]
3 years ago
9

how do the income effect, the substitution effect, and diminishing marginal utility help explain the law of demand?

Biology
1 answer:
Setler [38]3 years ago
7 0
The utility<span> approach </span>helps explain the law of demand<span>. In fact, the </span>demand<span> curve for a normal good is downward sloping due to the </span>law<span> of </span>diminishing marginal utility<span>.</span>
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