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. Should you go to the concert instead of working Saturday?

Select one:

a. Yes, the benefit of going to the concert is more than the cost.

b. No, the benefit of going to the concert is less than the cost.

c. Yes, the benefit of going to the concert is equal to the cost.

d. No, because there are no benefits of going to the concert.

Answer rating: 100% (QA)

b For going to the concert he is willing to pay Rs 35 w... View the full answer