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In the Paradox of Value Between Expensive Diamonds and Inexpensive

Question 84

Multiple Choice

In the paradox of value between expensive diamonds and inexpensive water,we see that


A) the consumer surpluses are very high for both goods.
B) diamonds have a low consumer surplus while water has a high consumer surplus.
C) diamonds have a high consumer surplus while water has a low consumer surplus.
D) the consumer surpluses are very low for both goods.
E) the consumer surpluses for the two goods cannot be compared.

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