Why does the paradox of value between diamonds and water arise?
It arises because

Question

Why does the paradox of value between diamonds and water arise? 
 It arises because

Accepted Answer

water has a low price and a low marginal utility while diamonds have a high price and a high marginal utility.

Answer

diamonds have a higher value to people even though water is essential to life.

Answer

water has a low price and a low total utility while diamonds have a high price and a high total utility.

Answer

water has a low price and a low total utility while diamonds have a higher price and a low total utility.

Answer

necessities like water have a higher price than luxuries like diamonds.

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