Which of the Following Is an Example of Irrationally Considering

question 51

Multiple Choice

Which of the following is an example of irrationally considering sunk costs when making a decision?

• A)A family pays $20 to enter an amusement park for the day and leaves after an hour.
• B)A family pays $20 to enter an amusement park for the day and stays all day.
• C)An individual pays $50 for a baseball game ticket and ends up sitting through the entire game in the freezing rain.
• D)An individual pays $50 for a baseball game ticket and ends up enjoying the entire game.

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Definitions:

Poverty

A condition where individuals or groups lack the financial resources to meet basic needs such as food, shelter, and healthcare.

Zero-Child Family

A family unit where the parents have chosen not to have children.

Auto Mechanic

A professional who specializes in repairing and maintaining automobiles, including diagnosing mechanical issues and performing services and repairs.

Commission Salesperson

A salesperson who earns income based on the percentage of sales they generate, rather than receiving a fixed salary.