Business, 06.03.2020 16:04, jonnycampbell223
Jacques has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Kyoko, whom Jacques has wanted to date for a long time, asks him to a party. Jacques would prefer to go to the party with Kyoko and forgo the opera, but he doesn’t want to waste the $100 he spent on the opera ticket.
From the perspective of an economist, if Jacques decides to go to the concert with Kyoko, what has he just done?a. Made a choice that was not optimalb. Correctly ignored a sunk costc. Incorrectly allowed a sunk cost to influence his decision
Answers: 1
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Jacques has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontr...
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