Tomas buys a hamburger that doesn't taste very good. He can't return the hamburger and get his money back. Tomas decides to eat the hamburger even though it doesn't taste very good because he doesn't want to "lose the money" he paid for the hamburger. Which of the following statements are true about this situation? Check all that apply. Tomas may end up making himself worse off by eating the hamburger than by not eating the hamburger. O Tomas cannot get back the money he paid for the hamburger, and so eating the hamburger doesn't really prevent him from losing the money he paid for the hamburger. O By deciding to eat the hamburger, Tomas is committing the sunk cost fallacy.

Tomas buys a hamburger that doesn't taste very good. He can't return the hamburger and get his money back. Tomas decides to eat the hamburger even though it doesn't taste very good because he doesn't want to "lose the money" he paid for the hamburger. Which of the following statements are true about this situation? Check all that apply. Tomas may end up making himself worse off by eating the hamburger than by not eating the hamburger. O Tomas cannot get back the money he paid for the hamburger, and so eating the hamburger doesn't really prevent him from losing the money he paid for the hamburger. O By deciding to eat the hamburger, Tomas is committing the sunk cost fallacy.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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