Which of the Following Statements About the Cost and Value

question 169

Multiple Choice

Which of the following statements about the cost and value of information is False?

• A) Dependable information can be expensive.
• B) Managers never get all the information they would like to have.
• C) Money may be wasted if a manager ignores the facts revealed in a marketing research study and bases his/her decisions on guesswork.
• D) The cost of gathering additional information is always justified by its value.
• E) All of the above statements are false.

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Definitions:

Public Park

An area of natural, semi-natural, or planted space set aside for human enjoyment and recreation or for the protection of wildlife or natural habitats.

Not Excludable

A characteristic of public goods where it is not possible to prevent people from using the good or service, regardless of whether they have paid for it.

Opportunity Cost

Sacrificing potential profits from different choices upon selecting a particular option.

Medical Research

The rigorous study and investigation conducted to gain insight and gather information on fields related to medicine and healthcare to improve health outcomes.