Multiple Choice
Refer to the following graph to answer the following questions:
-Which of the following statements is true?
A) Water costs more than diamonds.
B) The total utility of diamonds is greater than the total utility of water.
C) The marginal utility of diamonds is greater than the marginal utility of water.
D) The diamond-water paradox does not exist.
E) The marginal utility of water is greater than the marginal utility of diamonds.
Correct Answer:
Verified
Correct Answer:
Verified
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