Radio station to see jazz band perform at an outdoor concert

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Reference no: EM131236957

Jim wins a ticket from a Radio station to see a jazz band perform at an outdoor concert. Mike has paid $18 for a ticket to the same concert. All the other costs of attending the concert (including parking, fuel, etc.) are the same for Jim and Mike. On the evening of the concert there is a tremendous thunderstorm. If Jim and Mike have the same tastes regarding the concert and both make their decision based on marginal analysis (as discussed in class), which of the following should be true and why? (Choose one and use the space provided to briefly explain your answer)

a. Jim is more likely to attend the concert (briefly explain why?)

b. Mike is more likely to attend the concert (briefly why?)

c. Jim and Mike are equally likely to attend the concert (briefly why?)

Reference no: EM131236957

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