Which of the following statements is true regarding potential information problems faced by consumers?
A) Sellers have little incentive to inform customers about their products.
B) The market provides consumers with a strong incentive to acquire information.
C) Information problems tend to be most problematic for items consumers purchase regularly.
D) In markets, people make all decisions with full information.

Question

Quizplus · Accepted Answer

Consumers have a strong incentive to acquire information to make informed purchasing decisions, as it helps them maximize their utility and avoid poor choices.

Which of the Following Statements Is True Regarding Potential Information