Jason Spends All Afternoon Baking a Cake

question 12

Multiple Choice

Jason spends all afternoon baking a cake.When it comes out of the oven,it's burnt and sunken in the middle,and Jason considers whether he should throw it away or not.If Jason were rational,he would compare the ______________,which is ______________,to the benefits of eating a burnt,sunken cake.

• A) sunk cost; the time and ingredients spent making the cake
• B) opportunity cost; the value of the time spent and utility from eating or doing something else
• C) total cost; the value of the time spent making the cake, the cost of ingredients, and value of the time that could be spent doing something other than eating the cake
• D) benefit of throwing the cake away; the value of not having to eat burnt cake

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Advantages

The favorable aspects or benefits that contribute to achieving success or gaining a competitive edge.

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Describing something that is long in duration, size, or extent, often more than is usual or necessary.

Report-style Information

Pertains to presenting data and analysis in a structured format, typically used in business or academic contexts.

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