On a Trip to Halifax, Myra Experienced Car Trouble

question 89

Multiple Choice

On a trip to Halifax, Myra experienced car trouble. She knew she needed to find a good mechanic, so she asked the advice of the people running the motel where she was staying. She also called the local Better Business Bureau for help and looked in the local yellow pages. Finally, she called a friend who used to live in Halifax for his recommendation. Myra was obviously engaged in which stage of the consumer decision making process?

• A) Need recognition
• B) Alternative evaluation
• C) Information search
• D) Purchase decision

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Definitions:

Marginal Utility

Marginal utility is the additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Marginal Utility

This term refers to the additional satisfaction or utility gained by consuming one more unit of a good or service.

Rational Consumer

An economic theory assumption that consumers make purchasing decisions based on their rational outlook, available information, and self-interest to maximize utility.

Income Effect

A change in the quantity demanded of a product that results from the change in real income (purchasing power) caused by a change in the product’s price.