Asked by Maegan Cantu on Jun 09, 2024
Verified
Since they have already paid for their tickets,it does not make economic sense for fans to leave before a game is finished.
Economic Sense
The rationale or logic derived from economic principles or considerations, often related to making decisions based on cost-benefit analyses.
Tickets
Documents or electronic codes that grant the holder the right to enter an event, travel on a vehicle, or participate in an activity.
- Understand the consequences of irrecoverable expenses on economic choices.
Verified Answer
PM
Patrick MensahJun 11, 2024
Final Answer :
False
Explanation :
This is an example of the sunk cost fallacy. The money spent on tickets is a sunk cost and should not influence the decision to stay or leave; the decision should be based on the current and future value or enjoyment of staying at the game.
Learning Objectives
- Understand the consequences of irrecoverable expenses on economic choices.