Sean has plans to go to a movie and already has a $10 nonrefundable, nonexchangeable, and nontransferable ticket. Now Yvette, whom Sean has
wanted to date for a long time, asks him to a concert. Sean would prefer to go to the concert with Yvette and forgo the movie, but he doesn't want to
waste the $10 he spent on the movie ticket.
From the perspective of an economist, if Sean decides to go to the movie, what has he just done?
Made an optimal choice
Incorrectly allowed a sunk cost to influence his decision
Correctly ignored a sunk cost