The Water-Diamond Paradox Discussed in the Text Implies That

Multiple Choice

The water-diamond paradox discussed in the text implies that

A) water, unlike diamonds, is not subject to the law of diminishing marginal utility
B) the less abundant a good, the lower is its marginal utility although its total utility may still be relatively high
C) the more abundant a good, the lower is its marginal utility although its total utility may still be relatively high
D) people would trade water for diamonds, a useful for a useless good
E) the price of water is higher than the price of diamonds