Related to the Economics in Practice on page 314: From a consumer welfare standpoint, as the variety of available choices of a particular type of product increases, consumer welfare

Question

Quizplus · Accepted Answer

The availability of a wide variety of choices can initially increase consumer welfare as it allows consumers to find the product that best fits their preferences. However, if the number of choices becomes too overwhelming, it can actually decrease consumer welfare as it creates decision fatigue and confusion, leading to a decrease in satisfaction with the chosen product. Therefore, consumer welfare may increase to a point with a larger variety of choices but may eventually lose value with too much variety, making choice C the best answer.

Related to the Economics in Practice on Page 314: from a Consumer