Please enable JavaScript.
Coggle requires JavaScript to display documents.
Week 11: Consumer Choice - Coggle Diagram
Week 11: Consumer Choice
-
-
-
-
-
Diamond-Water paradox
Nothing is more useful than water, but it can hardly buy anything. On the other hand diamonds are basically useless but it can be exchanged for a lot of things
-
Compares the marginal utility of a very scarce good (diamond) with the marginal utility of an abundant good (water)
-
-
-
-
-