Prior to beginning work on this discussion, read Farah Mohammed’s article, Why A

Prior to beginning work on this discussion, read Farah Mohammed’s article, Why Are Diamonds More Expensive Than Water? (Links to an external site.), as well as Chapter 5 in your textbook, especially Sections 5.1 and 5.3, and respond to the following:
Describe the relationship between total utility and marginal utility.
Explain if marginal utility can be negative.
Examine the diamond-water paradox. Why are diamonds more expensive than water?
Evaluate the law of diminishing marginal utility.
Identify some items, explaining your reasoning, that do not follow the law of diminishing marginal utility.
Evaluate how the law of diminishing marginal utility can explain the diamond-water paradox.
The Law of Diminishing Marginal Utility paper
Must be three to five double-spaced page in length (not including title and references pages) and formatted according to APA Style (Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.)
Must include a separate title page with the following:
Title of paper in bold font
Space should appear between the title and the rest of the information on the title page.
Student’s name
Name of institution (University of Arizona Global Campus)
Course name and number
Instructor’s name
Due date
Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Writing Center resources.
Must use at least three scholarly and/or credible sources in addition to the course text.
The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.