ECON 200 Lecture Notes - Lecture 2: Mira-Bhayandar Municipal Corporation, Sunk Costs, Opportunity Cost
31 Jan 2018
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Microeconomics lecture 2: economics and life (aug. 31, 2017: moblab questions (no right answers, a pizza restaurant gives you all-you-can eat pizza for . 00. A researcher decides to conduct an experiment; an assistant posing as a waiter gives a refund to one group of customers before giving the customers their pizza while taking full payment from the other. Hearing that the weather may be bad, you rent an indoor court for two hours at a non-refundable rate of . Saturday morning comes, the weather is beautiful and outdoor courts are free. Indoor: outdoor, you have tickets to a basketball game that will take place at a venue 60 miles from your home. On game day, it starts snowing very hard. The roads are open but the drive would be difficult. His salary is thus a sunk cost, since his team is legally obligated to pay him no matter how badly he plays.
