Statement I: The water-diamond paradox can be resolved using utility theory.
Statement II: If the price of water was high and the price of diamonds was low,there would be no water-diamond paradox.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

The Answer of Statement I: The water-diamond paradox can be resolved using utility theory.
Statement II: If the price of water was high and the price of diamonds was low,there would be no water-diamond paradox.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Statement I: the Water-Diamond Paradox Can Be Resolved Using Utility