The Diamond-Water Paradox Occurs Because

question 236

Multiple Choice

The diamond-water paradox occurs because

• A) the price of a product is related to its total utility, not its marginal utility.
• B) the price of a product is related to its marginal utility, not its total utility.
• C) water is, in fact, very scarce in certain regions of the world.
• D) diamonds are more useful than water.

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Definitions:

Stimulus

Any event or situation that evokes a response from an organism.

Pressure Wave

A type of wave propagated through fluids or gases where the wave fronts consist of regions of high and low pressure.

Binocular Cues

Visual information taken in by two eyes that enable us a sense of depth perception, or the ability to perceive the three-dimensional structure and distance of objects.

Monocular Cues

Visual information that allows for perception of depth and distance using one eye, including texture gradient, interposition, and linear perspective.