Ted got a ticket to this year’s Super Bowl and paid the face value of $1,000. His cousin offered him $3,000 for the ticket. Ted chose to attend the game. From this, we can infer that Ted’s value for this ticket was
A. less than $1,000.
B. more than $2,000.
C. at least $3,000.
D. the ticket price plus his cousin’s offer, a total of $4,000.
Answer: C
Economics
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