Is it always worthwhile gathering more information about customer needs and preferences?
a. no, a good rule of thumb is not to spend on information more than 2% of what is at stake in the decision.
b. yes, the cost of gathering information is always negligible.
c. no, the value of additional information must be compared to its additional cost.
d. yes, provided that this information is relevant to the firm's decisions.
e. yes, gathering more information enables the firm to forecast demand more accurately. reset selection?
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