Which of the following scenarios describes an action that is not rational from an economic point of view? A. Eric buys a replacement ticket to the basketball game after he realizes that he accidentally left his original ticket at home. B. US Airways sells a last minute ticket to Don for $50 even though its average cost per passenger is $250. C. Emily chooses to attend a social event on Tuesday night instead of studying even though she has an important exam on Wednesday morning. D. After drinking one martini (shaken, not stirred), James buys and drinks a second martini even though the marginal benefit of the second martini is lower than the marginal benefit of the first. E. None of the above

The last ticket has no marginal cost so the ticket selling below ATC is not the concern, profit is maximum at MR = MC and MC = 0 for the passenger at last minute.

nikitavidya0 nikitavidya0 · Answer 2 · 2021-12-13T10:15:10+01:00

None of the above statements describes the actions which could be regarded as rational from an economic point of view.

The rational economic view states that decision-making by customers is led by their rational choices granting them the highest utility. Thus, the statements given are not rational for economics as no event is causing any harm to economic welfare.

Thus, as per rationality in economics individuals are seen as making decisions in a certain manner, which is predictive that would be generating the greatest satisfaction to them.

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