Question: Rational Ignorance is what? a ) When consumers stop seeking information on a prospective purchase because the expected cost of the additional search / information
Rational Ignorance is what?
a When consumers stop seeking information on a prospective purchase because the expected cost of the additional searchinformation exceeds the expected benefits.
b The change in total cost resulting from a oneunit change in the level of output.
c Individuals choose to limit their demand for goods and services voluntarily to save money.
d A technique used to determine the best or most favorable outcome in a particular situation.
e A maximum price established by law, contract, or agreement.
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