Water is cheap and diamonds are expensive because water has a ________, and diamonds have a ________.
A) low total utility; high total utility
B) low marginal utility; high marginal utility
C) high marginal utility; low marginal utility
D) low marginal utility and a low total utility; high marginal utility and a high total utility
Question 2
If perfectly competitive firms exit a market, the
A) market supply curve shifts leftward.
B) price of the good or service falls.
C) profits of the remaining firms decrease.
D) output of the industry increases.
The Water Cycle
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Variable Gases: Water Vapor
Carbon Monoxide and Water Molecules Interaction