We would expect the total utility of diamonds to be <u>lower</u> than the total utility of water and the marginal utility of diamonds to be <u>higher</u> than the marginal utility of water.
<u>Explanation:</u>
The diamond-water paradox presents the puzzling predictions: while water is definitely essential to human existence because without water life can not function, the water price is relatively low. Alternatively, diamonds are actually far less essential to human life, but diamond prices are considerably higher. Thus the effectiveness obtained from water is evidently very high while the utility extracted from diamonds is considerably less.
Here total utility is the aggregate satisfaction of desires and needs gathered from the consumption of a good while marginal utility is the additional satisfaction of desires and needs received from the consumption of one additional unit of good.
 
        
             
        
        
        
The Mean Of The Annual Salary Is $66000
It is because 90000+60000+70000+90000+20000=330000. 330000 Divided By 5 Equals 660000. You find the mean by adding all the numbers together, then dividing by the number of how many numbers there are, if that makes sense.
~Spades
        
                    
             
        
        
        
 The amount of revenue for July is $1,515.
- The computation of the amount of revenue for July is as follows:
= Cash received during July month + provided service to the customer on credit
= $1,020 + $495
= $1,515
Therefore we can conclude that the amount of revenue for July is $1,515.
Hence, option d is correct.
Learn more about the revenue here: brainly.com/question/8645356
 
        
             
        
        
        
Answer:
Harry loves both hot dogs and hamburgers. He receives about the same satisfaction from eating one hamburger as he does from eating one hot dog, and the two goods fill the same need in Harry's life. The price of hot dogs has been extremely volatile for the past several years, and this year is no exception Hot dog prices decreased tremendously this month Assuming hot dogs and hamburgers are substitutes for Harry, what is the effect on Harry's demand for hamburgers due to the decrease in the price of hot dogs?
There will be a movement down along his demand curve
Explanation:
Reason behind the decrease in demand curve for hamburger would be as a result of decrease in the price of hot dog which would increase the demand since they could be substituted for each other because of their benefits; hence, the demand curve for hamburger would be decreased or mov e down