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9. Sunk costs and decision making Beth has plans to go

Question : 9. Sunk costs and decision making Beth has plans to go : 199429

9. Sunk costs and decision making

Beth has plans to go to a play and already has a $50nonrefundable, nonexchangeable, and nontransferable ticket. NowCarl, whom Beth has wanted to date for a long time, asks her to aparty. Beth would prefer to go to the party with Carl and forgo theplay, but she doesn't want to waste the $50 she spent on the playticket.

From the perspective of an economist, if Beth decides to go tothe play, what has she just done?

Incorrectly allowed a sunk cost to influence her decision

Made an optimal choice

Correctly ignored a sunk cost

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Philosophy 2 Years Ago 31 Views
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