The Paradox of Value as It Applies to Diamonds and Water

question 44

Multiple Choice

The paradox of value as it applies to diamonds and water can be explained by

• A)distinguishing between utility and price.
• B)water having a high level of marginal utility relative to diamonds.
• C)water having a low price relative to diamonds.
• D)the fact that utility can't be measured.
• E)distinguishing between total utility and marginal utility.

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Definitions:

Modulator Pressure

In automatic transmissions, the hydraulic pressure that controls the timing and force of shifts.

Torque Converter Stator

Torque Converter Stator is a key component of a torque converter in automatic transmissions, helping to improve efficiency by directing the flow of fluid in a way that multiplies torque.

Transmission Oil Level

The amount of oil present in the transmission system, critical for lubrication, cooling, and smooth operation, requiring regular checks and maintenance.

Aerates

introduces air into a fluid, often to improve the fluid's properties or to facilitate certain chemical processes.