10:137 Il LTE Notes October 27, 2020 at 10:11 AM In the United States, it is pretty common for people to make New Year's resolutions, such as commitments to a healthy lifestyle and exercise. More often than not, people sign up for gym memberships that they never use. Actually, this is exactly what the gyms want! Here's the prompt: In the context of this gym-membership example identify the presence of two decision-problems: 1) The sunk-cost fallacy 2) The hidden-cost fallacy Be sure to explain the application of both fallacies! Is it good or bad for gyms that people commit those fallacies? Is it good or bad for consumers that they commit these fallacies? Explain