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24 March, 00:07

Diamonds have a higher monetary value than water because: a. diamonds are scarce. c. water has limited value. b. diamonds are a necessity. d. water has little utility.

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  1. 24 March, 00:17
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    paradox value is the apparent contradiction between the high monetary value of a nonessential item and the low value of an essential item. For example, diamonds have a higher monetary value than water because diamonds are scarce and appeals more to consumers' utility.
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