Carol Says the Following to an Economist: "I Hate Playing

question 96

Multiple Choice

Carol says the following to an economist: "I hate playing the guitar, but I have taken lessons for 10 years, so I might as well continue. There is a chance I will become a professional guitarist one day." An economist would probably make which of the following statements?

• A)In a world of scarcity and unhappy alternatives, guitar playing may be your best bet.
• B)You're right; it is better not to let all that time, energy, and money on guitar lessons go to waste.That would be uneconomical and irrational.
• C)The music made by a guitar is nice; maybe you should stay with it, you may come to like it.
• D)The cost you have incurred for guitar lessons is sunk.You should not allow something that can't be undone to influence a current decision.

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Definitions:

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party being charged to be enforceable.

Statute of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be written and signed to be enforceable.

Confirmation

The act of validating or verifying that something is true or accurate, often through official or formal acknowledgment.

Party's Signature

The act of an individual or entity affixing a unique mark, often handwritten, on a document to signify agreement or consent.