Multiple Choice
One reason why water is cheap compared to diamonds is because the
A) marginal utility of water is enormous.
B) marginal utility of water is small.
C) total utility of water is enormous.
D) total utility of water is small.
E) total utility of water and diamonds must be equal, but the marginal utility of water is much lower than the marginal utility of diamonds.
Correct Answer:

Verified
Correct Answer:
Verified
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