Because information and the time required to acquire and digest it are scarce,
A)consumers concentrate on private choices rather than on public choices
B)consumers concentrate on public choices rather than on private choices
C)it is irrational for consumers to remain ignorant of the costs and benefits of government proposals
D)consumers have greater incentive to gather and act upon information about public choices than to gather and act upon information about their private choices
E)an individual voter has more incentive to examine the performance records of candidates for public office

Question

Quizplus · Accepted Answer

When information is scarce, consumers prioritize their private choices over public choices because they have a direct impact on their lives and require less time and effort to acquire information about. Public choices, on the other hand, often have a more indirect impact and require more time and effort to understand, so consumers may not prioritize them as highly.

Because Information and the Time Required to Acquire and Digest