The “Water-diamond Paradox” with the help of Ricardo’s concept of diminishing returns and by using Marshall’s model of supply and demand .

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To explain: The “Water-diamond Paradox” with the help of Ricardo’s concept of diminishing returns and by using Marshall’s model of supply and demand.

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In the basic supply-and-demand model, a buyer only purchases a good when? if the price is lower than it was previously. if the price of the good covers the producers’ costs of production. if the price is less than they are willing to pay. if doing so increases the well-being of society. if they are forced to do so.

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