Which of the Following Statements About Information Search During Consumer

question 87

Multiple Choice

Which of the following statements about information search during consumer decision making is false?

• A)In general, better-educated, younger consumers tend to expend more effort on information search than those who are less-educated and older.
• B)Perceptions of crowding in the retail environment can cause people to reduce external information search.
• C)Time constraints can cause people to reduce external information search.
• D)Market mavens tend to engage in high levels of ongoing information search.
• E)Research shows that in general, very few consumers enjoy shopping for the sake of shopping.

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Definitions:

Marginal Cost

The cost of producing one additional unit of a good or service.

Marginal Revenue

The additional income that an organization receives from selling one more unit of a product or service.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain exceeding the opportunity costs of resources.

MR = MC

An economic principle stating that the maximum profit occurs where marginal revenue equals marginal cost, guiding firms on the optimal level of output.