Question

"Experience goods" are those which: a. Have performance attributes that are difficult to ascertain at the moment of purchase b. Only customers with previous experience of using these goods would rationally consider purchasing c. Only firms with wide experience in an industry would rationally consider making d. Have been produced by the firm furthest down the Learning Curve

Answer 1

Answer:

a. have performance attributes that are difficult to ascertain at the moment of purchase

Explanation:

In case of an experience good, it is difficult to make predictions regarding its price and quality.

The reputation of a seller and word of mouth are the important things that customers can use to make decisions regarding purchasing of the product.

Experience goods are those which have performance attributes that are difficult to ascertain at the moment of purchase