Which of the Following Refers to the Finding That Consumers

question 28

Multiple Choice

Which of the following refers to the finding that consumers will prefer an object to which they have been exposed compared to one to which they have not been exposed?

• A) mere exposure effect
• B) just meaningful difference (JMD)
• C) subliminal effect
• D) Weber's Law
• E) selective distinction

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Definitions:

Utility Function

A mathematical representation of a consumer's preference ranking over a set of goods or services, indicating satisfaction levels.

Units Of X

A generic term for measuring quantities of a variable or unspecified item, labeled as 'X'.

Exchanges Of X For Y

Transactions or trades where one good, service, or asset (X) is traded for another (Y).

Utility Function

An economic term describing how consumers rank different bundles of goods or levels of happiness.