36. Suppose you bought a ticket to a football game for $30 and that you place a

Question

36. Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket? Assume that losing the ticket does not alter how you value it. (Points : 5)       $5
      $30
      $35
      $65


36. Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket? Assume that losing the ticket does not alter how you value it. (Points : 5)       $5
      $30
      $35
      $65

Explanation / Answer

$35

The lost football ticket is a sunk cost which cannot be recovered, so you should still be willing to pay 35.

Related Questions

Navigate

• Browse (All)
• Browse 3
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.