Bill attends a local basketball game. The teams are very unbalanced, the play is bad, and the score quickly reaches 36-2. At halftime, Bill realizes he's having no fun, leaves the game, and goes home. Bill's behavior is NOT determined by

A. economic logic.
B. sunk costs.
C. utility maximization.
D. None of these is true.

B. sunk costs.

Economics

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Two goods are said to be substitutes when a fall in the price of one good:

A) leads to a left shift in the demand for the other good. B) leads to a rise in the price of the other good. C) doesn't affect the demand for the other good. D) leads to a right shift in the demand for the other good.

Economics

The early 1980s "Star Wars" space-based defensive weapons system was an example of _____

a. economic warfare b. a military alliance c. negative externality d. undefined property rights

Economics