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.
Correct Answer:

Verified
Correct Answer:
Verified
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