The paradox of value

Same demand curve, two goods. Drag either quantity handle: total worth is the shaded area, price is the height.

The paradox of value: total worth as area, price as height Diamonds — held in tiny amounts total worth Quantity Marginal worth / price ($) $9 1 Water — held in huge amounts total worth Quantity Marginal worth / price ($) $2 8

Water, quantity 8: marginal worth (price) $2, total worth $48.

Abundant: a low price at the margin, yet a vast total worth — the paradox of value.