This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The paradox of value with respect to water and diamonds can be explained using consumer surplus because (Read 19 times)

luminitza

  • Hero Member
  • *****
  • Posts: 555
on: May 24, 2019
The paradox of value with respect to water and diamonds can be explained using consumer surplus because
◦ water is cheap but provides a large consumer surplus, while diamonds are expensive with a small consumer surplus.
◦ diamonds are in large supply relative to their demand, while water is scarce in supply relative to its demand.
◦ water is cheap but provides a small consumer surplus, while diamonds are expensive but provide a large consumer surplus.
◦ the total consumer surplus from diamonds is greater than the total consumer surplus from water.
◦ None of these answers is correct.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by luminitza on May 24, 2019

jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


luminitza

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: May 24, 2019
Thanks


jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: May 24, 2019
Welcome :)


« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Water Properties Water Properties
Air pressure under water Air pressure under water
Available Fresh Water per year Available Fresh Water per year
Bottled vs. Tap Water: A Summary Bottled vs. Tap Water: A Summary
Vitamin Water Vitamin Water
Water as a Solvent Water as a Solvent
Video: Functional zones in a mitochondrion

For a complete list of videos, visit our video library