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The Paradox of Value as It Applies to Diamonds and Water

Question 44

Multiple Choice

The paradox of value as it applies to diamonds and water can be explained by


A) distinguishing between utility and price.
B) water having a high level of marginal utility relative to diamonds.
C) water having a low price relative to diamonds.
D) the fact that utility can't be measured.
E) distinguishing between total utility and marginal utility.

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