Which of the Following Statements Is CORRECT

question 222

Multiple Choice

Which of the following statements is CORRECT?

• A) Because information is different from typical goods and services, it cannot be provided in a market.
• B) The marginal benefit from more information does not decrease.
• C) Too little information is provided if the market for information is a monopoly.
• D) Acquiring more information can never be inefficient.

Know the steps of the scientific method in economics.

Understand that economic models require simplifications due to the complexity of reality.

Identify the characteristics of a good economic theory.

Understand the concept of rational self-interest in economic decision-making.