--%>

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 : Why government taken as capital receipt

    Why the borrowings by Government are taken as capital receipts?

  • Q : IS-KM Model with classical supply

    discuss with the help of IS-LM model why money has no effect on output in classical supply case

  • Q : Open-Economy Macroeconomics

    Open-Economy Macroeconomics   Suppose the structure of an economy with a flexible exchange rates is represented by:   C = 200 + 0.85*(Y - T)             &n

  • Q : Nominal GNP problem The value of

    The value of nominal GNP of an economy was Rs. 2,500 crores in a specific year. The value of GNP of that country throughout the same year, computed at the prices of some base year was Rs.3000 crores. Evaluate the value of GNP deflator of the year in terms of percentag

  • Q : FDI WHAT ARE THE STRENGTH AND WEAKNESS

    WHAT ARE THE STRENGTH AND WEAKNESS OF THE THEORY OF FOREIGN DIRECT INVESTMENT

  • Q : Utilization of Bond market to make and

    How does the FED utilize the bond market to make and destroy money? Which technique do developed countries utilize to decrease the chance of experiencing inflation? What about the Banana Republicans and inflation, do they have this means acessible to

  • Q : Business cycle What is meant by the

    What is meant by the term business cycle as described by economists?

  • Q : Limitation of credit availability What

    What occurs to economy, when credit availability is limited and credit is made costlier? Answer: Aggregate demands falls

  • Q : Aggregate Expenditure model Describe

    Describe Aggregate Expenditure model and also state AD/AS model?

  • Q : In which of these two statements

    "In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."