Suppose you have tickets to tonight's concert.Nevertheless, you are also in bed with a very high fever.In considering weather to go to the concert or not, a rational consumer should:
A)Go to the concert if the price you paid for the tickets is very high
B)Stay in bed if the price of the tickets is very low
C)Go to the concert if the value of the concert for you offset the discomfort of getting out of bed
D)stay in bed if the fever is the discomfort of getting out of bed is too high

Question

Quizplus · Accepted Answer

A rational consumer should consider the opportunity cost of going to the concert while being sick. Going to the concert may worsen their condition and potentially even harm others. However, if the value of the concert outweighs the discomfort and potential risks, then it may be rational to attend. Thus, the best choice in this scenario would be to go to the concert only if the value of the concert for the consumer offsets the discomfort of getting out of bed while being sick.

Suppose You Have Tickets to Tonight's Concert