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Question
The diamondwater paradox explains why
a. water, which is essential to life, is inexpensive, whereas diamonds, which do not sustain life, are expensive.
b. water, which is essential to life, is expensive, whereas diamonds, which do not sustain life, are inexpensive.
c. the demand for diamonds, which do not sustain life, is greater than the demand for water, which is essential to life.
d. the total utility in society for diamonds, which do not sustain life, is greater than the total utility in society for water, which is essential to life.
e. diamonds and water are usually purchased in separate transactions.
Answer
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