Author Question: A simple model of information acquisition for shopping predicts that, the larger the percentage of ... (Read 43 times)

go.lag · **on:** Jun 30, 2018

A simple model of information acquisition for shopping predicts that, the larger the percentage of dealers in an area seen by the typical shopper, the _____ will be the dispersion of the prices _____ relative to their average.
a. larger; the buyers pay
b. larger; the dealers quote
c. smaller; the buyers pay
d. smaller; the dealers quote

Question 2

The law of diminishing marginal utility states that as additional units are consumed, satisfaction per unit will decline.
a. True
b. False
Indicate whether the statement is true or false