Essential water is cheaper than nonessential diamonds because: O a. the supply of diamonds is great...

 

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Essential" water is cheaper than "nonessential" diamonds because: O a. the supply of diamonds is great relative to demand and the supply of water is small relative to demand. O b. the supply of water is great relative to demand and the supply of diamonds is small relative to demand. c. new industrial uses for diamonds have been discovered. d. although the total utility of diamonds is greater, their marginal utility is small. Essential" water is cheaper than "nonessential" diamonds because: O a. the supply of diamonds is great relative to demand and the supply of water is small relative to demand. O b. the supply of water is great relative to demand and the supply of diamonds is small relative to demand. c. new industrial uses for diamonds have been discovered. d. although the total utility of diamonds is greater, their marginal utility is small.

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The detailed answer for the above question is provided below The correct answer to the question is d ... View the full answer