When faced with a choice, a person assesses alternatives as long as the expected marginal __________ of gathering more information about the person's opinions __________ the expected marginal __________.
A)benefit, is less than, cost
B)cost, exceeds, benefit
C)benefit, exceeds, cost
D)benefit, is greater than, benefit
E)cost, is greater than, benefit

Question

Quizplus · Accepted Answer

The person will continue to gather information as long as the expected marginal benefit of gathering more information exceeds the expected marginal cost. This means that the person will keep assessing alternatives until the benefit of continuing to gather more information (such as making a more informed decision) is greater than the cost of gathering that information (such as the time and effort involved). Choice C matches this criterion.

When Faced with a Choice, a Person Assesses Alternatives as Long