________ is the decision not to acquire information because the marginal cost of doing so exceeds the marginal benefit.
A) Rational ignorance
B) The principle of minimum differentiation
C) A free rider
D) Consumer ignorance
E) The tragedy of the commons

Question

Quizplus · Accepted Answer

Rational ignorance is the deliberate decision not to acquire information because it is not worth the effort or cost to do so. The individual decides that the marginal cost of acquiring the information exceeds the marginal benefit of having the information. This decision is rational because the individual weighs the costs and benefits before choosing not to acquire the information.

________ Is the Decision Not to Acquire Information Because the Marginal