Tony notes that an electronics store is offering a flat $20 off all prices in the store. Tony reasons that if he wants to buy something with a price of $50, then it is a good offer, but if he wants to buy something with a price of $500, then it is not a good offer. This is an example of: inconsistent reasoning; saving $20 is saving $20. the proper application of the Cost-Benefit Principle. inconsistent reasoning because prices are sunk costs. rational choice because saving 40% is better than saving 4%.

Question

02-10-2020
Mathematics

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Tony notes that an electronics store is offering a flat $20 off all prices in the store. Tony reasons that if he wants to buy something with a price of $50, then it is a good offer, but if he wants to buy something with a price of $500, then it is not a good offer. This is an example of: inconsistent reasoning; saving $20 is saving $20. the proper application of the Cost-Benefit Principle. inconsistent reasoning because prices are sunk costs. rational choice because saving 40% is better than saving 4%.

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fichoh fichoh · Answer 1 · 2020-10-05T08:16:14+02:00

Answer: inconsistent reasoning; saving $20 is saving $20

Step-by-step explanation: Tony's reasoning would be deemed as being inconsistent because the discount offered on sale of items isn't based on proportion rather it is based on a specified amount. Tony is basing is judgement on percentage rather the specified discount amount on product. Hence, thinking the offer isn't good when buying more expensive product is erroneous as the offer isnt based on proportion and the same specified amount is saved across all items purchased.