The Paradox of Value as It Applies to Diamonds and Water

question 44

Multiple Choice

The paradox of value as it applies to diamonds and water can be explained by

• A)distinguishing between utility and price.
• B)water having a high level of marginal utility relative to diamonds.
• C)water having a low price relative to diamonds.
• D)the fact that utility can't be measured.
• E)distinguishing between total utility and marginal utility.

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