In the consumer choice problem, consumers are confronted with which of the following?
A) A set of different consumer goods and services to choose from.
B) A set of prices for those goods and services.
C) A finite budget that constrains the quantity of goods and services that consumers can buy.
D) Preferences or utility associated with consuming different quantities of each of the different goods and services.
E) All of the above answers are correct.

Question

In the consumer choice problem, consumers are confronted with which of the following?
A) ​A set of different consumer goods and services to choose from.
B) A set of prices for those goods and services.​
C) ​A finite budget that constrains the quantity of goods and services that consumers can buy.
D) ​Preferences or utility associated with consuming different quantities of each of the different goods and services.
E) All of the above answers are correct.​​

Quizplus · Accepted Answer

All of the above options are required for the consumer choice problem. Consumers must choose from a variety of goods and services, taking into account their preferences or utility, while constrained by a limited budget and the prices of the goods and services.

In the Consumer Choice Problem, Consumers Are Confronted with Which