The figure given below shows the marginal cost and the marginal benefit of information curves. In the figure given below, identify a likely impact of a new technology that requires consumers to spend less time searching for information.
Figure 14.2
A) A rightward shift of the marginal cost of information curve
B) A rightward shift of the marginal benefit of information curve
C) A leftward shift of the marginal cost of information curve
D) A leftward shift of the marginal benefit of information curve
E) An increase in common knowledge
Correct Answer:
Verified
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