Question $11$

$0\mathrm{.}25pts$

Mia is considering renovating a vintage bicycle and has already spent $$250$ on the restoration process. She foresees the potential to sell the bicycle for $$500.$ After evaluating the situation, Mia realizes that an extra $$300$ worth of work is needed to increase the bicycle's value to potential buyers up to $$500.$ What should Mia decide to do$?$

Mia should complete the additional work and sell the bicycle for $$500.$

Mia should stop the project and consider $$250$ restoration a sunk cost.

It does not matter which action he takes since the outcome will be the same either