You Paid $35 for a Ticket (Which Is Non-Refundable)to See

question 99

Multiple Choice

You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. Your economic surplus from going to work instead of seeing SPAM on Saturday is:

• A)$0
• B)$1
• C)$35
• D)$36

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Definitions:

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A personality trait that denotes a person’s tendency to engage in and enjoy effortful cognitive activities.

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