"Experience goods" are those which:
A)Have qualities or performance that are difficult to ascertain at the moment of purchase
B)Only customers with previous experience of using these goods would rationally consider purchasing
C)Only firms with wide experience in an industry would rationally consider making
D)Have been produced by the firm furthest down the Learning Curve

Question

Quizplus · Accepted Answer

Experience goods are products or services that are difficult to evaluate before purchase because they rely heavily on subjective qualities or performance that are not immediately apparent. Examples of experience goods include restaurant meals, haircuts, and vacation packages. Because experience goods are difficult to evaluate, consumers often rely on past experiences, word-of-mouth recommendations, and other cues to assess their quality.

"Experience Goods" Are Those Which