Block: Sunk cost - yes [Wave 4]

• Element Type: Block

• Block Type: Standard

• Block Name: Sunk cost - yes

Questions In This Block:

Question QID182

Question Type: Text Entry

Question Text:

Imagine that you just paid $50 for a Coffee Connection discount card that allows you to buy coffee for 50% off the regular price of $3.00 (i.e., you pay $1.50). Soon after you purchased the Coffee Connection discount card, Java Coffee, a competitor, opened a new store that sells coffee for just $2.00 per cup. Although the Coffee Connection store is ten minutes away by car, Java Coffee is only about 1/2 block from your apartment. Assuming that you only buy coffee from these two places and that you like the coffee sold in both places the same, how many of your next 20 coffee purchases would be from Java Coffee? Enter a number between 0 and 20.