Question

Tim is trying to make a decision whether to go golfing or to go to a concert. Suppose the ticket for a round of golf costs $50, and the ticket for a concert costs $100. It takes 4 hours for a round of golf, but only 2 hours for a concert. Tim’s hourly wage is $50. Suppose Tim is rational and enjoys golfing and concert equally, what would his choice be?

A) Tim will go golfing, because the ticket costs less.

B) Tim will go to the concert, because the total cost of going to the concert is lower.

C) Time will be indifferent (or equally satisfied) between going golfing and going to a concert, because it is indicated that he enjoys the two activities equally.

D) We do not have enough information to answer the question.

Answer 1