Your Econ. Professor bought airline tickets to leave a conference early on Saturday morning. He later found out that he needed to present a paper later that Saturday, so he changed his tickets at a cost of $200. When he got to the conference, he discovered that he was scheduled twice: on Friday and on Saturday. He was given his choice of when to give the presentation. He said he would present on Saturday, because he paid an extra $200 in order to stay. Explain why you agree or disagree with his logic.

Your Econ. Professor bought airline tickets to leave a conference early on Saturday morning. He later found out that he needed to present a paper later that Saturday, so he changed his tickets at a cost of $200. When he got to the conference, he discovered that he was scheduled twice: on Friday and on Saturday. He was given his choice of when to give the presentation. He said he would present on Saturday, because he paid an extra $200 in order to stay. Explain why you agree or disagree with his logic.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section: Chapter Questions

Problem 5QP

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