Some people make purchases without complete information because:
A)they are irrational.
B)the opportunity cost of getting more information outweighs the benefit of having more information.
C)the benefit of having more information outweighs the cost of acquiring it.
D)No one makes purchases without complete information.

Question

Quizplus · Accepted Answer

People may make purchases without complete information if they perceive that the time and effort required to get more information is not worth the benefits of having that information. This is based on their subjective evaluation of the opportunity cost, which is the value of the next best alternative foregone by choosing one option over another. It does not necessarily indicate irrationality or a lack of concern for information.

Some People Make Purchases Without Complete Information Because