Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Tidy Tidy
wrote...
Go to Answer
Posts: 4852
Rep: 38 0
8 years ago
Suppose you pre-ordered a non-refundable movie ticket to X-Men: Days of Future Past. 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) You should not waste resources. Since you have paid for the ticket you should watch the movie.
C) Your should go to the movie to minimize your losses.
D) You should go to the movie to maximize your utility.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 212 times
1 Reply
Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
Replies
Answer verified by a subject expert
VincenzoDVincenzoD
wrote...
#1
Top Poster
Posts: 1913
Rep: 241 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Tidy Author
wrote...

8 years ago
Thanks
jmelchor77
wrote...

Yesterday
This helped my grade so much Perfect
Jose^2
wrote...

2 hours ago
Correct Slight Smile TY
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1394 People Browsing
 132 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 2477
  
 1843
  
 519
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 249
Previous poll results: Who will win the 2024 president election?