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 59 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?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

From space earth shows itself as a planet covered mostly by water. From space earth shows itself as a planet covered mostly by water.
Hand Washing Using Soap and Water Hand Washing Using Soap and Water
Polarity of Water Polarity of Water
Dramatic growth of algae in water treated with phosphate Dramatic growth of algae in water treated with phosphate
The movement of water and nutrient through a tree The movement of water and nutrient through a tree
A Bat Ray cruising through the water column below the "sunburst." Bat Rays are types of ... A Bat Ray cruising through the water column below the "sunburst." Bat Rays are types of ...
Video: Types of antimicrobial substances (interferons & complement protein)

For a complete list of videos, visit our video library