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DateExplain the reasonbehind the downwarddemandslope of thecurve |
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Answer» Explanation: The law of demand is BASED on the law of Diminishing Marginal Utility. ACCORDING to this law, when a consumer buys more units of a COMMODITY, the marginal utility of that commodity continues to decline. ... Thus, DUE to the price effect when consumers consume more or LESS of the commodity, the demand curve slopes downward. |
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