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Stion 10, 0.3 Study C... E Homework: Lab 6 Part 1 of 2 O Points: 0 of 1 The diamond-water paradox is the classic example

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Stion 10, 0.3 Study C... E Homework: Lab 6 Part 1 of 2 O Points: 0 of 1 The diamond-water paradox is the classic example of the paradox of value, but the concept can be applied to many other market situations. Show in a diagram the situation in which a cardiac surgeon earns far less than an NHL hockey star. 1.) Using the line drawing tool, plot the supply curves for both markets on the given diagram. Label the curves properly. Let the cardiac surgeon market and the NHL hockey player market correspond to markets C and N, respectively. 2.) Using the point drawing tool, plot the equilibrium point for both markets. Label the points properly. Carefully follow the instructions above, and only draw the required objects. Price DN De Question Viewer Quantity

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