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:

Newline Sequence

A character or sequence of characters used to represent the end of a line of text and the start of a new line.

'\n'

A character used in programming to represent a newline, signaling the end of a line of text.

Polymorphism

In object-oriented programming, the ability of different objects to respond to the same function call in different ways depending on their data types or classes.

Object-Oriented Language

A programming language that is based on the concept of "objects," which can contain data and code: data in the form of fields, and code, in the form of procedures.