One Reason Why the Price of Diamonds Is So High

question 43

Multiple Choice

One reason why the price of diamonds is so high is because the

• A) marginal utility of diamonds is zero.
• B) marginal utility of diamonds is high.
• C) marginal utility of diamonds is low.
• D) total utility of diamonds is low.
• E) total utility of diamonds is high.

---

Definitions:

Equitable Remedy

Judicial remedies granting relief based on fairness, including injunctions and specific performance, distinguished from remedies by way of monetary damages.

Damages

Monetary compensation awarded by a court to a person who has suffered loss or harm due to the wrongful act of another.

Mandatory Injunction

A court order requiring an individual or entity to perform a specific action, often to correct a wrong or prevent further harm.

Violate Contractual Term

The act of failing to perform obligations or duties as outlined in a contract.