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Monday, December 15, 2008

Paradox

The image is a graphical representation of a popular paradox in economics. Some details have been edited and only the initials of the quantity on the vertical axis are visible. Name the paradox.

Answer: The Diamond-Water Paradox (also known as the Paradox of Value)
Cracked by Roshan

Original image:

2 comments:

roshan said...

Paradox of Value?
I presume MU=Marginal Utility and the curves show Law of Diminishing Utility

dr.mephisto said...

paradox of thrift

Monday, December 15, 2008

Paradox

The image is a graphical representation of a popular paradox in economics. Some details have been edited and only the initials of the quantity on the vertical axis are visible. Name the paradox.

Answer: The Diamond-Water Paradox (also known as the Paradox of Value)
Cracked by Roshan

Original image:

2 comments:

roshan said...

Paradox of Value?
I presume MU=Marginal Utility and the curves show Law of Diminishing Utility

dr.mephisto said...

paradox of thrift