The tool that is used for the analysis of consumers' willingness to pay and companies'willingness to supply the various characteristics embedded in a good is called _______.
A) hedonic analysis
B) cardinal analysis
C) ordinal analysis
D) cost-benefit analysis

Question

Quizplus · Accepted Answer

Hedonic analysis is used to analyze how different factors affect the price of a good or service, essentially breaking down the item into its constituent characteristics to understand consumers' willingness to pay and companies' willingness to supply those characteristics.

The Tool That Is Used for the Analysis of Consumers