(Answered) Ben spends 20 a year on 2 bunches of flowers and 50 a year

Engineering

Ben spends $20 a year on 2 bunches of flowers and $50 a year on 10,000 gallons of tap water. His marginal utility from flowers is 2 units and his marginal utility from water is 0.5 units per gallon.

Are flowers or water more valuable to Ben? Why? Explain Provide a detailed explanation how Ben's expenditure on flowers and water illustrates the diamond-water paradox

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Computer Engineering, Engineering

Category:- Computer Engineering
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