Question

Many consumers correlate price with quality, thinking that the higher the price, the better the quality. For these consumers, all else being equal, higher prices provide a quick signal of product quality. This is an example of a(n):

a. compensatory decision rules
b. non-compensatory decision rule
c. heuristic
d. social factor
e. determinant attribute

Answer 1

c) A heuristic

Step-by-step explanation:

Price is a decision heuristic a shortcut to simplify and shorten the decision process. You get what you pay for is related to this heuristic.