Question
You decide that it is not worth another P2,000 to attend the concert, and you and your friend decide to go bowling. On the way
You decide that it is not worth another P2,000 to attend the concert, and you and your friend decide to go bowling. On the way out of the lobby, a wealthy and happy-looking couple whom you have never seen before confronts you, tell you they have decided to fly to Hongkong tonight, and ask if you want their tickets. You say yes, of course, and thank you. A bystander standing in line to buy tickets sees this happening and offers to buy the tickets from you for P1,500. Evaluate the logic, in terms of relevant cost concepts, with respect to each of the following responses to the question of What should you do now?
A. You should attend the concert since you are now in exactly the same situation you were in when you were driving to the concert and thought you had the original tickets.
B. You should sell the tickets for P1,500, since you had already decided, only a few minutes ago, that you didnt want to spend another P2,000 to buy the tickets.
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