迈克尔版本微观经济学第八章chapter8_sm_图文.pptVIP

* * * * * * * * * * * * * * * * * * * * * Paradox Resolved The paradox is resolved by distinguishing between total utility and marginal utility. For water, the price is low, total utility is large, and marginal utility is small. For diamonds, the price is high, total utility is small, and marginal utility is high. But marginal utility per dollar is the same for water and diamonds. Predictions of Marginal Utility Theory Copyright ? 2013 Pearson Canada Inc., Toronto, Ontario Value and Consumer Surplus The supply of water is perfectly elastic, so the quantity of water consumed is large and the co