--%>

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.

   Related Questions in Macroeconomics

  • Q : What are the strength and weakness What

    What are the strength and weakness of using per capital national income? give explained answer for query

  • Q : Principles of macroeconomics Explain

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

  • Q : Market demand curve for new houses The

    The market demand curve for latest houses would rise in response to a rise in: (1) construction technology. (2) The costs of lumber. (3) Housing prices. (4) Legal price ceilings on rental properties. (5) Expectations regarding future housing prices.

    Q : Fiscal and monetary policies in

    Explain the impact of changes in fiscal and monetary policies in curtailing inflation?

  • Q : Consumer Surplus and Producer Surplus

    In a graph of competitive market in equilibrium, the net surpluses producers and consumers enjoy generally equivalents the area among the: (i) Demand and supply curve however to the left of point of the market equilibrium. (ii) Horizontal axis and a 45°line origin

  • Q : Moentary policy a restrictive monetary

    a restrictive monetary policy is designed to shift the

  • Q : Nations wealth Adam Smith disputed that

    Adam Smith disputed that a nation’s wealth is, not the gold it possesses, but instead its: (1) Total population. (2) Capability to offer goods for its people. (3) Domestic financial capital. (4) Foreign investments. (5) Military might.

  • Q : Inflation Effect The economic effects

    The economic effects of inflation are all pervasive. It affects all those who depend on the market for their livelihood. The effects of inflation may be favorable or unfavorable, and low or high depending on the rate of inflation. For example a galloping the hyper inf

  • Q : Redistribution of Income through budget

    Redistribution of Income: Each and every economy strives to achieve a society, where inequality of income and wealth must be minimum. In order to attain this objective via government budget the government spends adequate money on social security schem

  • Q : Assignment for help Help me with this

    Help me with this assignment! Just 25 questions! Thank you so much!