Which of the Following Is Not a Fundamental That Underlies

question 196

Multiple Choice

Which of the following is not a fundamental that underlies consumer behavior?

• A) Goods can be substituted for one another.
• B) Consumers make decisions purposefully based upon past experience and knowledge.
• C) The law of diminishing marginal utility applies to all goods.
• D) Consumers always make choices with perfect information.

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Definitions:

Sales Price

The amount of money a buyer pays to purchase a product or service from a seller.