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Tag: Marginal utility

TED-Ed: The paradox of value – Akshita Agarwal

Imagine you’re on a game show and you can choose between two prizes: a diamond … or a bottle of water. It’s an easy choice – the diamonds are more valuable. But if given the same choice when you were dehydrated in the desert, after wandering for days, would you choose differently? Why? Aren’t diamonds …

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