If Water Is Essential for Life, While Diamonds Are Not

question 41

Multiple Choice

If water is essential for life, while diamonds are not, then why is water cheaper than diamonds?

• A) Because the marginal utility of water is high but the total utility is low.
• B) Because the total utility generated by diamonds is larger than the total utility generated by water.
• C) Because most people do not understand their total need for water.
• D) Because water is abundant, the marginal utility of water is low, and price reflects marginal utility, not total utility.

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Definitions:

Ribosome

Ribosomes are molecular machines within cells that synthesize proteins by translating messenger RNA into polypeptide chains, essential for all cellular functions.

Polypeptide Chain

A long, continuous, and unbranched chain of amino acids linked by peptide bonds that forms part of the structure of proteins.

tRNA Molecules

Transfer RNA; small RNA molecules that transport amino acids to the ribosome during protein synthesis, ensuring the correct amino acid sequence is assembled according to the mRNA template.

Gene Expression

The process by which information from a gene is used to synthesize functional gene products, often proteins, which can affect the cell's structure and function.