Select the False statement Question 19 options: Assuming competitive markets with typical supply and demand curves, an increase in demand with no change in supply will result in an increase in the quantity exchanged in the market Assuming competitive markets with typical supply and demand curves, an increase in supply with a decrease in demand will result in an increase in price The law of diminishing marginal utility states that additional units of a given product yield less and less extra satisfaction to a consumer If we represent the marginal utility from consuming product x and y as MUx and MUy respectively, and represent the respective prices as Px and Py. Suppose that consumer spends her/his income in such a way that MUx/Px = MUy/Py. In such a situation the consumer is maximizing total utility