Decision Making Using the Delphi Technique Ends ________

question 2

Multiple Choice

Decision making using the Delphi technique ends ________.

• A)with a secret ballot which allows members to support their favorite ideas
• B)when group members are allowed to finally meet face to face
• C)after all the responses of the group members have been consolidated
• D)once a consensus problem solution is reached
• E)after all questionnaires have been scored and tallied

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to expend on a good or service, reflecting the value they place on it.

Consumer Surplus

The discrepancy between the total sum consumers are prepared and capable of spending on a product or service and what they end up spending.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Willingness to Pay

The maximum amount an individual or entity is willing to pay for a good or service, reflecting its perceived value.