The Diamondwater Paradox

The diamondwater paradox Marginal Utility: The Missing Link in the Diamond- peeing problem. American Heritage Dictionary describes a paradox as ?a countingly contradictory statement that may yet be true?. I feel this definition applies to ?The Diamond-Water Paradox?. Water is of immeasurable prise to human survival, however it has virtually dinky or no monetary or tack value. dapple this seems to be a contradiction, it is in fact the absolute truth.

On the other hand a diamond has no true(a) value of use to mankind, however it is one of the intimately desire after and expensive items in the world. How is this? How can statements which seem so ludicrous be true? We must squeeze original factors into account when answering these and other questions. Economic status, preparation and petition of a special(prenominal) good, and tastes and preferences all must be considered when determining the value of a good to any particular individual. ...If you want to demoralize a full essay, order it on our website: OrderEssay.net

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