You purchased a ticket to a concert for $30 a month ago. Last week someone invited you to a party on the same night as the concert. You would much rather go to the party than the concert. You have tried unsuccessfully to sell the concert ticket. Which of the following statements regarding this situation is correct?

Group of answer choices

You should base your decision on whether or not the party will provide you with more than $30 in satisfaction.

The $30 concert ticket should be irrelevant in your decision making, because it represents the marginal cost of attending the party.

The $30 you paid for the concert ticket is relevant to the decision, as this represents the opportunity cost of attending the party.

The $30 you paid for the concert ticket should be irrelevant in your decision making, because it is a sunk cost.