Which of the Following Statements Is FALSE, with Respect to What

question 398

Multiple Choice

Which of the following statements is FALSE, with respect to what economist Adam Smith called the diamond-water paradox?

• A) The total utility of water greatly exceeds the total utility derived from diamonds.
• B) Total utility does not determine what people are willing to pay for a unit of a particular commodity; marginal utility does.
• C) The demand for water is much smaller than the demand for diamonds.
• D) There are relatively few diamonds, so the marginal utility of the last diamond consumed is relatively high.

---

Definitions:

BGM

Blood Glucose Monitoring, which is a way of testing the concentration of glucose in the blood.

SMBG Testing

Self-Monitoring of Blood Glucose, a method used by individuals with diabetes to check their blood sugar levels regularly at home.

Insulin Activity

The biological action of insulin in regulating glucose levels in the blood, including its onset, peak time, and duration.

Blood Glucose Levels

The concentration of glucose present in the blood, which is crucial for diagnosing and managing diabetes.