The approach to analyzing consumer behavior that asks consumers to rank and choose among different product attributes to reveal their relative valuation of different characteristics is called:
A) a direct consumer survey.
B) contingent valuation.
C) the hedonic estimation technique.
D) conjoint analysis.
D
You might also like to view...
Explain the time inconsistency of monetary policy
A production function:
A. defines the minimum amount of output that can be produced with inputs such as capital and labor. B. defines the average amount of output that can be produced with inputs such as capital and labor. C. is determined only by the expenditures on R&D. D. represents the technology available for turning inputs into output.
Let the consumption function be represented by the following equation: C = c0 + c1YD. For this equation, we assume that c1 is
A) negative. B) larger than c0. C) different at different levels of income. D) equal to one. E) none of the above
Related to the Economics in Practice on p. 52: Economist Meghan Busse found after examining more than 40 million car transactions that car purchasers are ________ influenced in their choice of cars by temporary weather fluctuations at the time of purchase.
A. not at all B. always C. slightly D. heavily