Which of the following is not an assumption of the theory of consumer behavior described in this chapter?

A) The consumer has to make purchasing decisions within a given budget constraint.
B) The consumer experiences diminishing marginal utility from consuming goods.
C) The consumer's tastes and preferences continually change within the period studied.
D) The consumer aims to get maximum total utility out of a given budget.

Theory of Consumer Behavior

An economic framework describing how individuals make decisions to allocate their resources on consumption items, based on their preferences, income, and the prices of goods and services.

Diminishing Marginal Utility

The principle that as a consumer increases consumption of a good or service, the incremental satisfaction gained from consuming each additional unit decreases.

Purchasing Decisions

Purchasing decisions involve the process by which consumers or organizations make choices about which products or services to buy, influenced by factors such as price, quality, and personal preferences.