Question

1.(Sunk Cost and Choice) Suppose you go to a restaurant and buy an expensive meal. Halfway through, despite feeling quite full, you decide to clean your plate. After all, you think, you paid for the meal, so you are going to eat all of it. What is wrong with this thinking?

Answer 1

Answer:

Sunk cost. The individual is still considering sunk cost in making future decisions

Explanation:

Sunk cost is cost that has already been incurred and cannot be recovered. It should not be considered in making future decisions.

In this question, the money paid for the meal is the sunk cost and it shouldn't be considered in making the decision of whether to continue the meal or not to.

I hope my answer helps you