Are flowers or water more valuable to ben why explain


Ben spends $20 a year on 2 bunches of flowers and $50 a year on 10,000 gallons of tap water. His marginal utility from flowers is 2 units and his marginal utility from water is 0.5 units per gallon.

Are flowers or water more valuable to Ben? Why? Explain Provide a detailed explanation how Ben's expenditure on flowers and water illustrates the diamond-water paradox

Solution Preview :

Prepared by a verified Expert
Business Management: Are flowers or water more valuable to ben why explain
Reference No:- TGS02841209

Now Priced at $10 (50% Discount)

Recommended (97%)

Rated (4.9/5)