Suppose You Pre-Ordered a Non-Refundable Movie Ticket to the Dark

question 43

Multiple Choice

Suppose you pre-ordered a non-refundable movie ticket to The Dark Knight Rises.On the day of the movie you decide that you would rather not go to the movie.According to economists,what is the rational thing to do?

• A)Since the cost of the movie ticket is a sunk cost,it should not influence your decision.Your decision should be based solely on whether you want to see the movie or not.
• B)You should not waste resources.Since you have paid for the ticket you should watch the movie.
• C)Your should go to the movie to minimize your losses.
• D)You should go to the movie to maximize your utility.

---

Definitions:

Anterior Pituitary

The front part of the pituitary gland, which produces hormones that regulate various physiological processes, including growth, reproduction, and metabolism.

Adrenocorticotropic Hormone

A hormone produced by the pituitary gland that stimulates the adrenal glands to release cortisol and other hormones.

Pituitary Gland

A small, pea-sized gland located at the base of the brain that produces hormones regulating important bodily functions.

Hyperthyroidism

A condition characterized by the overproduction of thyroid hormones by the thyroid gland, leading to a rapid metabolism.