Q3. Suppose that on his way to work, Eric stops to get gas and pays $2 a gallon. However, there is a gas
station one block away selling gas for $1 a gallon. Eric 's decision to pay a higher price in gas can be seen as
irrational under which scenario(s)?
Eric was pretty sure the alternative gas station was closed, although he was wrong.
Eric is simply a dumb person and does not deserve to be on the road.
Although Eric was aware of the other gas station, he was late for work, and had to knowingly pay a
higher price.
Eric was aware of the fact that the other gas station had lower gas prices, and would have saved
money, despite the extra block it would take to travel.
