The figure given below shows the marginal cost and the marginal benefit of information curves. In the figure given below, the marginal benefit curve shows that:

14.2

a. greater and greater distances must be covered to acquire a marginal piece of information.

b. the marginal benefit of information increases as a consumer spends more and more time acquiring information.

c. the cost of gathering information diminishes as more of it is gathered.

d. common knowledge alone is enough to decide consumer choice.

e. as consumers become more familiar with a market, additional information yields less and less improvement in product quality or value.