Resolving Adam Smith's Diamond-Water Puzzle Involves

question 145

Multiple Choice

Resolving Adam Smith's diamond-water puzzle involves

• A)realizing that price is not directly related to total utility.
• B)knowing that at optimal purchase, price will tend to equal marginal utility.
• C)knowing that, as increasing quantities of a good are consumed, marginal utility diminishes and, conversely, consuming a small quantity of a good produces high marginal utility.
• D)All of the responses are correct.

---

Definitions:

CTRL+TAB

A keyboard shortcut commonly used to switch between tabs in browsers and other software applications.

InPrivate Window

A browsing mode that doesn't save history, temporary internet files, or cookies, enhancing user privacy.

Saves Passwords

A feature in software and applications that securely stores users' passwords for various sites or services to facilitate faster and easier login processes.

Semantic Web

An extension of the current web that enables data to be shared and reused across application, enterprise, and community boundaries, based on the meaning of the data.