The use of price as a surrogate indicator appears to decline with:

Question

Quizplus · Accepted Answer

As visible product differences increase, consumers may be able to differentiate products based on factors other than price. As consumers gain prior product experience, they may become more knowledgeable and less reliant on price as an indicator of product quality. Similarly, as additional product information becomes available, consumers may be able to make more informed decisions about product quality and therefore rely less on price as a surrogate indicator. Therefore, all options mentioned in the question are correct and the answer is D.

The Use of Price as a Surrogate Indicator Appears to Decline