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In Early July,Mike Gottfried Purchased a $70 Ticket to the December

Question 1

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In early July,Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans.(The Titans belong to the Midwest Football League and play their games outdoors on the shore of Lake Michigan. ) Parking for the game was expected to cost approximately $22,and Gottfried would probably spend another $15 for a souvenir program and food.It is now December 14.The Titans were having a miserable season and the temperature was expected to peak at 5 degrees on game day.Mike therefore decided to skip the game and took his wife to the movies,with tickets and dinner costing $50.The sunk cost associated with this decision situation is:


A) $20.
B) $50.
C) $70.
D) $107.
E) some other amount.

Correct Answer:

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