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Question
Marcus gets a new cell phone for graduation. He abandons his old phone in a drawer forever, even though he could sell it on Craigslist for $50. Marcuss behavior is
a. irrational, because he wouldnt pay $50 for his old phone today, and still gives it up.
b. rational, because he wouldnt pay $50 for his old phone today, and still gives it up.
c. irrational, because the value of his new phone is $300 and should be compared to the $50 value of the old phone.
d. rational, because the value of his new phone is $300 and should be compared to the $50 value of the old phone.
e. neither rational nor irrational, since Marcus didnt buy the new phone.
Answer
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