Exercise on Applying the Principles of Economics (Cost and Benefit)
Question: Assume you are selling your MaBook after spending $100 on hardware repair.
Just before lunching the ad, the hard drive gets corrupted. Now, you have a choice either pay $60 to fix it or sell the laptop as it is.
For each of the following scenarios, should you have the hard drive fixed? Explain your answer.
- Selling value is $650 if hard drive is operational, $570 it it does not.
- Selling value is $600 if hard drive is operational, $550 it it does not.
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Date of last modification: 2021