The Optimal Amount of Information to Acquire Before Making a Purchase

question 18

Multiple Choice

The optimal amount of information to acquire before making a purchase is:

• A)zero.
• B)as much as possible.
• C)the amount such that the total cost of acquiring information equals the total benefit.
• D)the amount such that the marginal cost of acquiring information equals the marginal benefit.

---

Definitions:

Construct Validity

The extent to which a test or instrument measures the theoretical construct it is intended to measure.

MMPI

Minnesota Multiphasic Personality Inventory, a standardized psychometric test of adult personality and psychopathology.

Rorschach Inkblot Technique

A projective psychological test consisting of 10 inkblots presented to individuals who interpret what they see, used to analyze their personality, emotional functioning, and underlying thought disorders.

Myers-Briggs Indicator

A psychological assessment tool designed to measure how people perceive the world and make decisions, based on Jungian theory.