A sensible buyer will want to acquire additional information before committing herself as long as the expected value of the information she is gathering
A) is greater than the anticipated value of the purchase.
B) is greater than the expected cost of acquiring it.
C) will enable her to avoid all mistakes.
D) will enable her to avoid possible mistakes she will subsequently regret having made.
B
You might also like to view...
An import quota specifies the
A) price that can be charged for any imported good. B) amount of taxes that must be paid on any imported good. C) maximum amount of a good that may be imported during a specified period. D) minimum amount of a good that may be imported during a specified period.
The type of tax receipts that has shown the largest growth since the end of World War II has been
A) personal taxes. B) contributions for social insurance. C) taxes on production and imports. D) corporate taxes.
The federal corporate income tax rate in 2003 was about _____ for most corporations
a. 28 percent b. 35 percent c. 42 percent d. 47 percent
Why do skilled workers earn relatively higher wages than unskilled workers?
a. The marginal productivity of skilled workers is low. b. The marginal cost of hiring skilled workers is low. c. The supply of skilled workers is relatively less. d. There is an abundant supply of skilled workers. e. The marginal cost of hiring unskilled workers is high.