Ben spends $50 a year on 2 bunches of flowers and $50 a year on 10,000 litres of...
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Ben spends $50 a year on 2 bunches of flowers and $50 a year on 10,000 litres of tap water. Ben is maximizing utility and his marginal utility from water is 0.5 units per litre. Ben's expenditure on flowers and water illustrates the paradox of value because Ben's marginal utility from flowers is ________ his marginal utility from water, and his total utility from flowers is ________ than his total utility from water.
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