The utility that people experience from the consumption of a good depends on
A) their income level.
B) their tastes and preferences.
C) total sales of the good.
D) how much shopping time they spent obtaining the good.

Question

Quizplus · Accepted Answer

A person's utility from a good is primarily determined by their individual tastes and preferences. Income level can affect the ability to purchase certain goods, but it does not necessarily determine the utility experienced from consuming those goods. Total sales of a good and the amount of shopping time spent obtaining the good may indirectly affect utility, but they are not direct determinants of utility.

The Utility That People Experience from the Consumption of a Good