1. The problem is asking whether market research should be conducted given the EVPI and the cost of market research. 2. EVPI (Expected Value of Perfect Information) is $15,000. 3. The cost of market research is $12,000. 4. The key comparison is between the cost of research and the EVPI, because EVPI represents the maximum amount one should be willing to pay for perfect information. 5. Since $12,000 < $15,000, the cost of the research is less than the value of perfect information, meaning the research has potential to be beneficial. 6. Therefore, the correct reasoning is that the research should be conducted because $12,000 < $15,000. Final answer: d. Yes, because $12,000 < $15,000