--%>

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 : Maximizing consumer utility The

    The consumer maximizes the utility whenever spending patterns causes: (i) Total outlays to increase each time prices are altered. (ii) Marginal utilities of each and every good consumed to be equivalent. (iii) Marginal utilities from the last cent spent on each and ev

  • Q : Plan and non-plan expenditure Write a

    Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure

  • Q : Borrowings and recovery of loans

    Categorize the borrowings and recovery of loans into capital and revenue receipts of government budget. Give reason too.

  • Q : Marginal utility of good at its maximum

    Can someone help me in finding out the right answer from the given options. The consumer maximizes utility whenever the spending patterns cause: (1) Marginal utility of each and every good to be at its maximum value. (2) Marginal utilities of each and every goods cons

  • Q : Domestic inflation of fixed or managed

    Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain?

    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 : Income approach to evaluate national

    Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha

  • Q : Interest receipt Why is interest

    Why is interest received classified as revenue receipt? Answer: Interest received is a revenue receipt since it does not build any liability nor it leads to the red

  • Q : List Which of the following lists

    Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?

  • Q : Development economics Government tax

    Government tax and transfer payments generally