Arnold Kim Began Blogging About Apple Products During His Fourth

question 147

Multiple Choice

Arnold Kim began blogging about Apple products during his fourth year of medical school.Kim's website,MacRumors.com,became so successful that he decided to give up his medical career and work full time on his website,despite the nearly $200,000 he had invested in his education.In making his decision,Kim decided to ignore the money and time he spent on his education.Economists would say that Kim made a

• A)rational decision to ignore these sunk costs.
• B)poor decision since he had already invested his time and money on his medical career.
• C)poor decision since doctors are in greater demand than bloggers.
• D)hasty decision by not waiting to recoup his financial investment before giving up his medical career.

---

Definitions:

Protect the Public

Measures, laws, or actions taken to safeguard the welfare and safety of the general public, typically in the context of health, safety, and security.

Payments

The act of transferring money or other consideration from one party to another as fulfillment of an obligation or purchase.

Divisible Contract

An agreement comprising multiple promises or parts that can be separated and independently executed or enforced.

Consideration

Something of value exchanged between parties in a contract, making the agreement legally binding.