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12 Which of the following does not explain why is there an inverse (negative) relationship between price and quantity demanded? O Income effect -- that

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Which of the following does not explain why is there an inverse (negative) relationship between price and quantity demanded? O Income effect -- that is, a price change can affect the amount of some item you can afford to purchase. O Diminishing marginal utility -- as you consumer more, as the result of a price. decrease, the additional satisfaction received from the additional units consumed will start to go down. O When the price of an item increases, you buy more because it is more valuable. O Substitution effect -- that is, a price change can affect the opportunity cost of purchasing some item and your willingness to switch to (or from) another item

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