Multiple Choice
Which of the following is the best statement of the paradox of value?
A) Why does the amount people are willing to pay for a good vary with the amount consumed?
B) Why do some goods like water, which is necessary for life, have a low price while other goods like diamonds have a high price?
C) What is the logical relationship between value and price?
D) Why is efficiency so valuable for a society?
E) None of the above states the paradox of value.
Correct Answer:
Verified
Correct Answer:
Verified
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