Question 14 Not yet answered Marked out of 1.00 Elagquestion A consumer is willing to pay up to $1.5 for a bottle of water and up to $1500 for a diamond ring because: a. Total utility of water is less than the marginal utility of a diamond ring. b. Marginal utility of a bottle of water is less than the marginal utility of a diamond ring. c. Total utility of a diamond ring is greater than total utility of water d. Consumer is irrational and does not know that water is more important than diamond