Carlos Has Been Invited to Go Skiing for the Afternoon

question 77

Multiple Choice

Carlos has been invited to go skiing for the afternoon with his friends.It will cost $40 for a lift ticket.It is likely Carlos will:

• A) overvalue the benefit of skiing.
• B) undervalue the opportunity cost of his afternoon.
• C) find it difficult to place a value on what he might do instead of skiing.
• D) All of these are true.