The diamond-water paradox can be explained by noting that the marginal utility of water is _____ and the total utility gained from water is:
A) low; low.
B) low; high.
C) high; low.
D) high; high.
Correct Answer:
Verified
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Q32: (Figure: Utility Table A) Price =
Q33: (Figure: Utility Table A) Price =
Q34: (Figure: Utility Table A) Price =
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