The cost of conducting an external search for information consists of the actual cost of the product, subjective costs associated with the search, and the opportunity cost of foregoing other activities.

Question

Quizplus · Accepted Answer

This statement is true. The cost of conducting an external search for information includes not only the actual cost of the product but also the subjective costs of the search, such as time and effort, as well as the opportunity cost of forgoing other activities during the search process.

The Cost of Conducting an External Search for Information Consists