The Price of Diamonds Is Substantially Greater Than the Price

question 21

Multiple Choice

The price of diamonds is substantially greater than the price of water because

• A)the total utility of water is greater than the total utility of diamonds.
• B)the total utility of diamonds is greater than the total utility of water.
• C)the marginal utility of the last diamond purchased is significantly greater than the marginal utility of the last gallon of water purchased by a typical person.
• D)the marginal utility of the last diamond purchased is significantly less than the marginal utility of the last gallon of water purchased by a typical person.

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Definitions:

Decibels

A unit of measurement for sound intensity or loudness, often used to compare levels of noise or sound pressure.

Sound Amplitude

The height of a sound wave, which determines its loudness or volume.

Perception Of Sound

The process by which sounds are interpreted and understood by the brain, involving the conversion of sound waves into neural signals.

Hz

The unit of frequency in the International System of Units (SI), representing one cycle per second.