Bill Is Restoring a Car and Has Already Spent $4000

question 19

Multiple Choice

Bill is restoring a car and has already spent $4000 on the restoration.He expects to be able to sell the car for $6200.Bill discovers that he needs to do an additional $2400 of work to make the car worth $6200 to potential buyers.He could also sell the car now,without completing the additional work,for $3800.What should he do?

• A)He should sell the car now for $3800.
• B)He should keep the car since it wouldn't be rational to spend $6400 restoring a car and then sell it for only $6200.
• C)He should complete the additional work and sell the car for $6200.
• D)It does not matter if Bill sells the car now or completes the work and then sells it at the higher price because the outcome will be the same either way.

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Definitions:

Oral Personality

A psychoanalytic concept that describes individuals fixated at the oral stage, characterized by behaviors centered around oral gratification.

Freud

Sigmund Freud, the founding father of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Psychic Energy

A concept in psychoanalytic theory referring to the energy of the mind's workings, driving thoughts, emotions, and behaviors.

Oedipus Complex

A Freudian concept involving a child's unconscious sexual desire for the parent of the opposite sex and jealousy towards the same-sex parent.