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

question 314

Multiple Choice

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.

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Definitions:

Deindividuation

A psychological state where an individual loses self-awareness and a sense of individuality, often resulting in disinhibited and norm-violating behavior, typically in group contexts.

Social Loafing

A phenomenon in group work where individuals put in less effort because they believe others will pick up the slack.

Competitive Instinct

The natural tendency or inclination to aim at outperforming others or being the best in a given scenario.

Norman Triplett

A psychologist known for his work on the social facilitation effect, showcasing how the presence of others affects performance.