Which of the following statements about the cost and value of information is False?
A) Dependable information can be expensive.
B) Managers never 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 the above statements are false.

Question

Quizplus · Accepted Answer

The statement "The cost of gathering additional information is always justified by its value" is False. Sometimes the cost of gathering additional information may outweigh the potential value that it may bring. Managers need to weigh the potential benefits of additional information against the cost of acquiring it.

Which of the Following Statements About the Cost and Value