Alfred Marshall is primarily responsible for developing the

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Alfred Marshall is known for his work in developing the laws of supply and demand, which describe the relationship between the quantity of a good that producers are willing to sell and the quantity that consumers are willing to buy at a given price. He also popularized the concept of elasticity of demand, which measures how responsive consumers are to changes in price. While Marshall did write about other economic concepts, including the idea of comparative advantage, he is most closely associated with the laws of supply and demand.

Alfred Marshall Is Primarily Responsible for Developing the