Mike Has Spent $800 Purchasing and Repairing an Old Motorcycle,which

question 47

Multiple Choice

Mike has spent $800 purchasing and repairing an old motorcycle,which he expects to sell for $1,200.He discovers that he needs an additional repair,which will cost $200.He can sell the motorcycle as it is now for $400.What should he do

• A)He should take the $400.
• B)He should never sell something for less than it cost.
• C)He should complete the repairs and sell the motorcycle.
• D)It doesn't matter which action he takes; the outcome is the same either way.

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Definitions:

Persuasive

Having the power to convince or influence someone to do or believe something through reasoning or the use of emotion.

Cognitive Dissonance

The mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time.

Smoking

The act of inhaling and exhaling the smoke of tobacco or a drug.

Health

A state of complete physical, mental, and social well-being, not merely the absence of disease or infirmity.