Ethan Paid $3 for a Bottle of ThirstAid

question 77

Multiple Choice

Ethan paid $3 for a bottle of ThirstAid.Later,while on a hiking trip,he was offered $8 for the ThirstAid.Select the correct statement from the following:

• A) The $8 offer is not relevant if Ethan refuses to sell the ThirstAid.
• B) If Ethan drinks the ThirstAid, no opportunity cost is associated with his decision.
• C) The $3 original purchase price is irrelevant to his decision to sell the ThirstAid.
• D) All of these answers are correct.

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Definitions:

Minutes

A written record of the proceedings of a meeting.

REM Sleep

A stage of sleep characterized by rapid eye movements, more dreaming and bodily movement, and faster pulse and breathing.

Memories

The mental storage of information, experiences, and learned skills.

Tensions

The state of being stretched tight, often used metaphorically to describe a state of mental or emotional strain.