Paradox of Value-total utility and marginal utility

I have a problem in economics on Paradox of Value-total utility and marginal utility. Please help me in the following question. Water is more precious than diamonds when measured by _____, however less valuable when measured by _____. (i) Total cost, total benefit. (ii) Marginal cost, marginal benefit or utility. (iii) Total utility, marginal utility. (iv) Average utility, average cost. (v) Average cost, average total profit per unit.

Find out the most appropriate option from the above.

View Complete Question

Related Questions in Macroeconomics

Q : Changing value of multiplier ‘Over the

‘Over the precedent 30 years, and particularly as our entry into the EU, imports (and exports) as a proportion of GDP have increases considerably in the UK. What influence has this had on the value of multiplier in the UK?’

Q : Shifting of demand curve due to new

Assume that the launch of Microsoft Xbox 360 moved the demand curve for Sony PlayStation 2 games from D0 to D1 throughout similar period if new game designers enter into this market and hence supplies of PlayStation 2 games shifted S0 to S1. The market equilibrium: (1

Q : Determine the marginal propensity to

If disposable income increases from Rs. 1,000 to Rs. 1,100, savings increase by Rs. 30. Determine the marginal propensity to save and marginal propensity to consume?

Q : One party to a transaction deceives

If one party to a transaction deceives another party prior to a deal be reached, this is termed as: (i) Bad luck. (ii) Adverse selection. (iii) Moral hazard. (iv) Polyandry. (v) Rational ignorance. Please someone suggest me the rig

Q : Principles of macroeconomics Explain

Explain the concept of “economies of scale” and “increasing returns”.

Q : Define involuntary unemployment

Involuntary unemployment: Involuntary unemployment terms to a condition in which people that are willing to work are unable to obtain work.

Q : Drawback in illustration of

Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone

Q : Principles of macroeconomics what are

what are the four factor of economic growth

Q : Tax shifting forward totally A tax is

A tax is shifted forward when the tax burden causes the: (w) consumers to pay higher prices. (x) lower purchasing power for the party bearing the legal incidence. (y) workers to experience lower take home wages. (z) decreased dividends to corporate st

Q : Market price decrement according to

When heroin were legalized, in that case the: (w) market price of heroin would drop considerably. (x) demand would raise although supply would decrease. (y) demand would decrease but supply would increase. (z) price of cocaine would raise.

Discover Q & A

Leading Solution Library

Avail More Than 1450837 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1950844
Asked

3,689

Active Tutors

1450837

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment