Which of the following statements about the cost and value of information is False?
A) Dependable information can be expensive.
B) Managers rarely get all the information they would like to have.
C) Money may be wasted if a manager ignores the facts revealed in a marketing research study and bases his/her decisions on guesswork.
D) The cost of gathering additional information is always justified by its value.
E) All of these statements are False.

Question

Quizplus · Accepted Answer

The statement "The cost of gathering additional information is always justified by its value" is False. There may be a point of diminishing returns, where the cost of gathering additional information outweighs its value. Managers must weigh the cost and value of information to make informed decisions.

Which of the Following Statements About the Cost and Value