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 27 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?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

English Water Spaniel English Water Spaniel
Chéri Samba, Problème d'eau. Où trouver l'eau? (The Water Problem. Where to Find ... Chéri Samba, Problème d'eau. Où trouver l'eau? (The Water Problem. Where to Find ...
Oligotrophic and eutrophic water bodies Oligotrophic and eutrophic water bodies
A 400-g piece of metal at 120°C is dropped into a cup containing 450 g of water A 400-g piece of metal at 120°C is dropped into a cup containing 450 g of water
When lithium chloride, LiCl, dissolves in water, which of the following is forme When lithium chloride, LiCl, dissolves in water, which of the following is forme
Video: Elementary kinetics

For a complete list of videos, visit our video library