Economics · Consumer Behaviour
The Law of Demand is primarily based on which of the following economic principles?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Law of Marginal Cost
- 2Law of Average Cost
- 3Law of Diminishing Marginal Utility✓
- 4Law of Total Cost
Correct answer
Law of Diminishing Marginal Utility
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