Manuel has plans to go to an Pittsburgh Pirates baseball game
and already has a $60...
90.2K
Verified Solution
Link Copied!
Question
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.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
