You Paid $35 for a Ticket (Which Is Non-Refundable)to See

You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. Should you go to the concert instead of working Saturday?

A) Yes, the benefit of going to the concert is more than the cost.
B) No, the benefit of going to the concert is less than the cost.
C) Yes, the benefit of going to the concert is equal to the cost.
D) No, because there are no benefits of going to the concert.

Correct Answer:

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