Business, 09.12.2019 21:31, 12bluestone

Suppose you pre-ordered a non-refundable movie ticket to x-men: apocalypse. on the day of the movie you decide that you would rather not go to the movie. according to economists, what is the rational thing to do?
a. since the cost of the movie ticket is a sunk cost, it should not influence your decision. your decision should be based solely on whether you want to see the movie or not.
b. your should go to the movie to minimize your losses.
c. you should not waste resources. since you have paid for the ticket you should watch the movie.
d. you should go to the movie to maximize your utility.

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Suppose you pre-ordered a non-refundable movie ticket to x-men: apocalypse. on the day of the movie...