Suppose That in the Year 2050,one Gallon of Water Is

question 49

Multiple Choice

Suppose that in the year 2050,one gallon of water is more expensive than a one-carat diamond.What could explain this?

• A) There is much less water in the world of 2050 than today.
• B) There are many more diamonds in the world of 2050 than today.
• C) The diamond-water paradox does not hold for any pair of goods.
• D) The law of diminishing marginal utility no longer holds.
• E) a or b

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