Consumer preferences _____
A)do not vary from one consumer to another.
B)have little to do with personal tastes and income.
C)are not influenced by the utility derived from a particular good.
D)determine the utility derived from goods.
E)can be objectively measured and compared across individuals.

Question

Quizplus · Accepted Answer

Consumer preferences determine the utility derived from goods, which is the satisfaction or happiness that a consumer gets from consuming a good. Consumer preferences can vary from one consumer to another and are influenced by personal tastes, income, and other factors. However, they cannot be objectively measured because they are subjective and based on individual perceptions and experiences.

Consumer Preferences _____