The water diamond paradox was solved with the aid of the concept of
Adam Smith's water-diamond paradox of value (why water has high value-in-use but low price, while diamonds have low value-in-use but high price) was resolved by the…
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The water diamond paradox was solved with the aid of the concept of
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Correct answer B
Adam Smith's water-diamond paradox of value (why water has high value-in-use but low price, while diamonds have low value-in-use but high price) was resolved by the marginalist revolution using the concept of Marginal Utility.
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