Introduction:
Demand refers to the quantity of a commodity that consumers are willing and able to purchase at a given price and time. The relationship between demand and price is a fundamental concept in economics. According to the law of demand, there is an inverse relationship between the price of a commodity and the quantity demanded. This relationship can be explained using utility analysis.

Utility Analysis:
Utility analysis is a tool used by economists to understand consumer behavior. It is based on the concept of utility, which refers to the satisfaction or happiness that a consumer derives from consuming a good or service. The law of diminishing marginal utility states that as a consumer consumes more of a good, the additional utility derived from each additional unit decreases.

Inverse Relationship:
The inverse relationship between the price of a commodity and its demand can be explained using utility analysis. When the price of a commodity decreases, it becomes more affordable for consumers, leading to an increase in their purchasing power. As a result, consumers are able to consume more units of the commodity, and their total utility increases.

Diminishing Marginal Utility:
However, according to the law of diminishing marginal utility, the additional utility derived from each additional unit of the commodity decreases. This means that as consumers consume more units of the commodity, the marginal utility they derive from each unit decreases. Therefore, the increase in total utility resulting from the consumption of additional units of the commodity is not as significant as the initial increase.

Equilibrium:
As the price of the commodity increases, consumers' purchasing power decreases, making it less affordable for them to consume the commodity. This leads to a decrease in the quantity demanded. At higher prices, the marginal utility derived from consuming the commodity becomes lower than the price consumers are willing to pay for it. Eventually, a point of equilibrium is reached where the price and quantity demanded are in balance.

Conclusion:
In conclusion, the demand of a commodity is inversely related to its price. As the price of a commodity decreases, consumers' purchasing power increases, leading to an increase in the quantity demanded. However, the diminishing marginal utility of each additional unit consumed reduces the overall increase in total utility. Conversely, as the price of a commodity increases, consumers' purchasing power decreases, resulting in a decrease in the quantity demanded. Utility analysis helps explain this inverse relationship between demand and price.