Keith Just Got an Iphone 5 for His Birthday,and He

Question 77
Multiple Choice

Keith just got an iPhone 5 for his birthday,and he quickly switches his data over and throws his iPhone 4 in a drawer and forgets about it.Economists would say this behavior is ___________ and would use the concept of ________________ to explain this choice. A) rational; the implicit cost of ownership B) irrational; the implicit cost of ownership C) irrational; ignoring sunk costs D) rational; considering sunk costs