Total utility and marginal utility

Can someone please help me in finding out the accurate answer from the following question. The paradox of the value (also termed as the diamond-water paradox) occurs from: (1) High transaction costs. (2) Low transaction costs. (3) Failures to differentiate among the marginal and total utility. (d) Marginal utility surpassing the total utility. (5) Net utility surpassing the marginal utility.

View Complete Question

Related Questions in Microeconomics

Q : Total variable costs in pure competition

This profit-maximizing, as in demonstrated graph, of brickyard’s total variable costs are about: (i) $200 per day. (ii) $600 per day. (iii) $750 per day. (iv) $900 per day. (v) $1200 per day.

Q : Determine the market price when demand

When both demand and supply rise within the market for cell phones, we would suppose the market price to: (w) increase. (x) decrease. (y) increase, decrease, or stay similar, depending upon the relative magnitudes of the shifts. (z) s

Q : Maximizing profit by hiring labor The

The firm maximizes profit by hiring the labor at a point where labor’s: (i) Marginal physical product equal its average physical product. (ii) Marginal revenue product equivalents its marginal resource cost. (iii) Rate of exploitation is maximum. (iv) Wage rate

Q : Problem on demand-Purchasing goods I

I have a problem in economics on demand-Purchasing goods. Please help me in the following question. The quantity of good consumers will purchase beneath different conditions are termed as consumer: (i) Requirements. (ii) Entitlements. (iii) Wants. (iv

Q : Inconsistent of demand with standard

The curve which is so inconsistent along with standard consumer theory which is based only on the substitution result, this could not possibly be a demand curve for any standard kind of consumer good is: (1) curve D1D1. (2) curve

Q : Prohibition in Economic Profit Economic

Economic profits are not: (1) a surplus of revenues over opportunity costs. (2) quite similar to pure economic rents from society’s viewpoint. (3) zero in a purely competitive economy along with no uncertainty and zero transaction costs. (4) dif

Q : Diminishing the Marginal Utility of

The additional dollar of income would be most probable to mean more to a usual poor individual than to a rich one if: (i) Efforts to raise income are proportional to the value of additional dollar earned. (ii) Each and every individual had similar total utilities from

Q : P/PROVIDE ME ANS IN HINDI BHASA

Question 1: Describe the main features of Harrod-Domar Growth model. How does the Harrod Domar model describe the occurrence of trade cycles?

Q : Alpha's and Beta's profits Refer to the

Refer to the below diagram where the numerical data illustrates profits in millions of dollars. Beta's profits are illustrated in the northeast corner and Alpha's profits in the southwest corner of each cell. If Alpha and Beta engage in collusion, the outcome of the g

Q : Estimation of total revenue in specific

Total revenue can be measured such as area: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) None of the above.

Discover Q & A

Leading Solution Library

Avail More Than 1437816 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1940825
Asked

3,689

Active Tutors

1437816

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment