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MC and MB Refer to the Marginal Cost and Marginal

Question 20

Multiple Choice

  MC and MB refer to the marginal cost and marginal benefit,respectively,of obtaining additional information. -Refer to the diagram above.The reason the marginal benefit of information curve is downward-sloping is that A)  some information is useless. B)  most information is useless. C)  information is subject to the law of diminishing marginal returns. D)  there is only so much to learn about a product. E)  consumers prefer blissful ignorance. MC and MB refer to the marginal cost and marginal benefit,respectively,of obtaining additional information.
-Refer to the diagram above.The reason the marginal benefit of information curve is downward-sloping is that


A) some information is useless.
B) most information is useless.
C) information is subject to the law of diminishing marginal returns.
D) there is only so much to learn about a product.
E) consumers prefer blissful ignorance.

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