Diamonds are priced higher than water because – McqOptions

MCQOPTIONS

1.	Diamonds are priced higher than water because
A.	consumers do not buy them at lower prices.
B.	they are sold by selected firms with monopolistic powers.
C.	their total utility to buyers is higher than that of water.
D.	their marginal utility to buyers is higher than that of water
Answer» C. their total utility to buyers is higher than that of water.

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