Question

If you buy a ticket to an outdoor concert but come down with a bad cold on the night of the show, the principle of ____ suggests you should not consider the money you already spent on the ticket when deciding whether or not to go.

Answer 1

Answer:

sunk cost

Explanation:

Sunk cost is cost that has already been incurred and it cannot be recovered. When making future decisions, sunk cost should not be considered.

The money i paid for the ticket is the sunk cost. I should not consider this cost when making the decision of whether to for the concert or not to