Information about the quality of a product is: A. intangible, and therefore not subject to economic...
Information about the quality of a product is:
A. intangible, and therefore not subject to economic principles.
B. subject to economic principles only when it is paid for, for example by subscribing to Consumer Reports or by hiring a financial advisor.
C. both beneficial to have and costly to obtain, and therefore subject to economic principles.
D. impossible to objectively assess, and therefore not subject to economic principles.
Homework Answers
Answer
Option C
C. both beneficial to have and costly to obtain, and therefore subject to economic principles.
the information is subject to economic principle as it should have an economic value to both parties in the transaction so it should have cost and benefits.
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