We Assume That the Representative Consumer's Preferences Exhibit the Properties

question 6

Multiple Choice

We assume that the representative consumer's preferences exhibit the properties that

• A) they evolve over time and that more is always preferred to less.
• B) more is preferred to less and that the consumer prefers diversity.
• C) the consumer likes diversity and that more is sometimes preferred to less.
• D) more is sometimes preferred to less and that consumption and leisure are both normal goods.
• E) less consumption is preferred to more leisure and that consumption and leisure are both normal goods.