The Diamond-Water Paradox Explains Why

question 14

Multiple Choice

The diamond-water paradox explains why

• A) water,which is essential to life,is inexpensive,whereas diamonds,which do not sustain life,are expensive.
• B) water,which is essential to life,is expensive,whereas diamonds,which do not sustain life,are inexpensive.
• C) the demand for diamonds,which do not sustain life,is greater than the demand for water,which is essential to life.
• D) the total utility in society for diamonds,which do not sustain life,is greater than the total utility in society for water,which is essential to life.
• E) diamonds and water are usually purchased in separate transactions.

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Definitions:

Randomly

In a manner lacking any predictable pattern or plan, used in statistical sampling to ensure that every individual or element has an equal chance of selection.

Wavenumber

A measure of the number of wave cycles per unit distance, often used in physics and chemistry to describe the wavelengths of light and other forms of electromagnetic radiation.

Wavelength

The distance between successive crests of a wave, especially points in a sound wave or electromagnetic wave.

Electromagnetic Radiation

Energy that travels through space in the form of waves, including radio waves, microwaves, infrared, visible light, ultraviolet, X-rays, and gamma rays.