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Manuel has plans to go to an Pittsburgh Pirates baseball game and already has a $60...

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Economics

Manuel has plans to go to an Pittsburgh Pirates baseball game and already has a $60 nonrefundable, nonexchangeable, and nontransferable ticket. Now Poornima, whom Manuel has wanted to date for a long time, asks him to a concert. Manuel would prefer to go to the concert with Poornima and forgo the Pittsburgh Pirates baseball game, but he doesn’t want to waste the $60 he spent on the Pittsburgh Pirates baseball game ticket. From an economics perspective, if Manuel decides to go to the concert with Poornima, he has incorrectly allowed a sunk cost to influence his decision. correctly ignored a sunk cost. made a choice that was not optimal.

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