Utility analysis assumes that the consumer's tastes and preferences are
A) dependent on income and education.
B) predetermined and stable.
C) dependent on national origin.
D) dependent on geographic location.

Question

Quizplus · Accepted Answer

Utility analysis assumes that the consumer's tastes and preferences are predetermined and stable, indicating that they remain constant over time, regardless of changes in income, education or any other factors.

Utility Analysis Assumes That the Consumer's Tastes and Preferences Are