2.1 Demand 1. What does the Law of Diminishing Marginal Utility have to do with the Law of Demand? 2. How does the Law of Diminishing Marginal Utility affect the pricing of businesses? 3. Imagine you go to the store to buy a $40.00 pair of jeans and discover they are on sale for $25. If you buy two pairs of jeans, what is this an example of? Explain your answer. Quantity Use the demand schedule to draw a demand curve below. Label all parts of the graph and curve (Demand (D), Price (P), Quantity (Q), and put in prices and quantities.) Price S Price Demanded $5 10 $4 20 135 $3 30 $2 50 2 1 $1 80 Demand a 10 20 30 46 56 60 90 20 Demand Schedules- Intro to Demand Curves Using the information above, answer the following questions: