9. Which statement is false? (LO2, 5) a) The water-diamond paradox can be resolved with the help of the law of diminishing marginal utility. b) We will consume a service when its marginal utility is equal to its price. c) The law of diminishing marginal utility has little validity today. d) None of the above. 10. As Keith Collins buys more and more of any good or service, his (LO3) a) total utility and marginal utility both decline b) total utility and marginal utility both rise c) total utility rises and marginal utility declines d) total utility declines and marginal utility rises 11. Doug Horn will buy more and more of a good or service until (LO4) a) marginal utility is greater than price b) price is greater than marginal utility c) price is equal to marginal utility