Why would an ounce of gold be priced higher than an ounce of coffee beans, even though coffee is generally con

3 ⤊

Why would an ounce of gold be priced higher than an ounce of coffee beans, even though coffee is generally con

Why would an ounce of gold be priced higher than an ounce of coffee beans, even though coffee is generally considered more essential than gold? Explain the paradox in terms of marginal and total utility.

2007-10-09 05:44:11 · 3 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture

3 answers

It´s a question of rarity. There´s a lot more coffee around than gold.

2007-10-09 05:55:31 · answer #1 · answered by Anonymous · 1⤊ 0⤋

Nice try!

There is actually a section for homework on Y!A. You could try there.

2007-10-09 12:49:28 · answer #2 · answered by The Bassline Libertine 3 · 1⤊ 0⤋

I guess it depends on how much you want to pay me for doing your homework.

2007-10-09 12:47:22 · answer #3 · answered by A.Mercer 7 · 1⤊ 0⤋