Consumers Will Make a Decision to Purchase a New Product

question 185

Multiple Choice

Consumers will make a decision to purchase a new product only if it

• A) has a lower marginal utility per dollar spent than another product.
• B) is recommended as a valuable product by other consumers.
• C) increases the total utility they obtain from their limited income.
• D) can be sold at a lower price than that for a competing product.

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Definitions:

Patterning

The recurring or organized arrangement of elements in a particular sequence or design.

Construct

Bipolar quality or continuum used to classify people.

Selective Perception

Process of seeing, hearing, or making sense of the world around us based on such factors as our personality, beliefs, attitudes, hopes, fears, and culture, as well as what we like and do not like.

Punctuation

Process of making sense out of stimuli by grouping, dividing, organizing, separating, and categorizing information.