Recall the application about income and consumer search.What can you conclude from a recent study that explores the relationship between consumer search and income?

Question

Quizplus · Accepted Answer

The study found that higher income individuals have a higher opportunity cost of search, meaning they have more valuable goods and services they could be producing or consuming during the time spent searching for a product. Therefore, they are less likely to engage in extensive search activities.

Recall the Application About Income and Consumer Search