In the Utility Maximising Model, Consumer Preferences Are Assumed to Be

Multiple Choice

In the utility maximising model, consumer preferences are assumed to be transitive. What does this mean?

A) that consumers prefer more of a good to less
B) that consumers have the freedom to change their preferences from time to time
C) that consumers have preferences that are relatively consistent in the time period under consideration
D) that consumers go through cycles in their consumption behaviour