AUTOMOBILE SCENARIO
Consider a Consumer Who Is Contemplating a New

question 123

Multiple Choice

AUTOMOBILE SCENARIO
Consider a consumer who is contemplating a new automobile purchase. She has narrowed her decision down to two brands, Honda Accord and Ford Taurus. She has identified gas mileage, price, warranty, and styling to be important attributes to consider in her decision. Her evaluative ratings (e) for each attribute and her beliefs of how each brand performs on a given attribute (b) are given below:
$$\begin{array} { | c | c | c | c| } \hline & & \text { Honda Accord } & \text { Fard Taurus } \\\hline \text { Attributa } & \boldsymbol { b } & \boldsymbol { b } & \boldsymbol { b } \\\hline \text { Mileage } & 2 & \mathbf { a } & 4 \\\hline \text { Low Price } & 3 & 2 & 2 \\\hline \text { Warranty } & - 1 & 1 & 3 \\\hline \text { Design } & 1 & 10 & 5 \\\hline\end{array}$$
-Refer to the Automobile Scenario.Based on the attitude-toward-the-object model,what is the consumer's overall attitude (A?) toward Ford Taurus?

• A)23
• B)16
• C)17
• D)11
• E)27

---

Definitions:

Wage Rates

The standardized amount of money paid for a specific quantity of labor or output, typically expressed as an amount per hour.

Autarky

An economic system where a country seeks to be self-sufficient and limit trade with foreign nations.

Consumer Surplus

The disparity between consumers' willingness to pay for a good or service and their actual payment amount.

Producer Surplus

The variance between the amount sellers are ready to accept for a commodity or service and what they actually earn from it.