Ihave lost a ticket to go to a concert this weekend. i had paid $50 for the ticket. a new one will cost me $50. i am debating about whether or not to go to the concert. assuming my time is worth $25, what is the minimum level of benefits that would make a decision to go to the concert a rational one? a. $25b. $50c. $75d. $100e. $125

The correct answer is option e.

Explanation:

Going to the concert will be a rational decision if the cost incurred is equal to the benefit earned.

Here, the ticket costs $50. Since the ticket is lost a new ticket is needed.

The value of time is $25.

The total cost will include both implicit as well as explicit costs.

The explicit cost is the cost of tickets. The implicit cost is the value of time.

The total cost involved is

= $50 + $50 + $25

= $125

For the decision to be rational the benefit earned should be at least equal to $125.

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'