Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket? Assume that losing the ticket does not alter how you value it.
A)$5
B)$30
C)$35
D)$65

Question

Quizplus · Accepted Answer

The maximum price you should pay for another ticket is $35, which is the value you place on seeing the game. Paying more than this would not be rational as it exceeds the value you derive from attending.

Suppose You Bought a Ticket to a Football Game for $30