The diamond water paradox (1/2) METAL Film 5.14

What determines the price of a commodity is its marginal utility, not its total utility, and the price of all units of a good is set by its marginal valuation. This section uses integration to explore this concept. Produced for the education project Mathematics for Economics: enhancing Teaching and Learning. See more at http://www.metalproject.co.uk

Category:

Education

Tags:

• math
• mathematics
• economics
• integration
• teaching
• learning
• marginal
• utility
• diamond
• water
• paradox

[knowledgeseekstruth]

check out BLUE GOLD:WATER WARS

[Bi11yb0bH0b0]

I like turtles

[bjames1530]

@bjames1530 need to increase that number even more. Someday the technology will be ready but I'm not gonna hold my breath until then.

[bjames1530]

@bjames1530 have to store it and come up with hydrogen stations. Estimates to provide the infrastructure to allow for wide use of hydrogen cars rages from 20 billion USD to half a trillion USD just for the united states. In my experience any time you are planning a project you can roughly double your spending estimate to come up with the amount you end up spending. Since the government would probably not allow businesses to come up with all the infrastructure on their own you could probably

[bjames1530]

@Sheeple101 I'm not sure why I'm bothering, but here goes.... You obviously seem to think that hydrogen fuel cell is the same thing as water. If not then you are poorly misinformed. Water itself does not burn, hydrogen which is in water does. The problem with hydrogen cars is that water molecules must be split into hydrogen and oxygen through electrolysis, thermolysis, or various chemical methods. One uses electricity one uses heat and the other uses chemicals. After you have pure hydrogen

[Sheeple101]

Water can be used to replace the oil, burns better and offers more power per gallon than that of gas, why do we not use water instead of oil? Why do we fight wars for something we just don't even need. It costs about 200 to 300 bucks to convert your existing car to make a hybrid gas/hydro so you still save about half the oil consumed. If everyone took these easy steps the oil market would die fast and bring the price of oil back to the 70's again. THINK WATER NOT WAR.

[trevormcfarland88]

This was actually really great, very interesting and informative... Thank you for this.