Author Question: Economists generally believe that a. buyers and sellers have all the information they can use b. ... (Read 14 times)

MGLQZ · **on:** Jul 1, 2018

Economists generally believe that
a. buyers and sellers have all the information they can use
b. additional information is costly to acquire
c. decision makers have complete knowledge of all the alternatives available
d. economic decisions result from random behavior
e. decision makers never make mistakes

Question 2

Consumers need information to make good choices. Which of the following is correct regarding this information?
a. Advertising is always harmful to consumers.
b. Information is scarce and therefore valuable.
c. Brand names offer no informational content.
d. Acquiring more information is always rational.
e. Marginal analysis does not apply to the acquisition of information.