Question

Your friend remarks that longer movies are a better deal than shorter movies because the ticket price is the same in both cases. Therefore, the longer movie provides more benefit for the same cost as a shorter movie. Which of the following is the best argument against your friend's claim that longer movies provide more benefit than shorter movies?

Based on the:

a. opportunity cost principle, the length of the movie does not matter as long as watching a movie is the best way to spend your time compared to other alternatives.
b. cost-benefit principle, the benefits of a longer movie exceed the costs when compared to a shorter movie.
c. marginal principle, you should only continue to watch an additional movie if it is shorter than the first movie.
d. interdependence principle, longer movies are affected by the market for shorter movies.

Answer 1

The opportunity cost principle is the best argument against the claim that longer movies always offer more benefit; it implies the value of a movie is relative to other activities one could engage in instead.

Step-by-step explanation:

The best argument against the claim that longer movies provide more benefit than shorter movies, based on the scenario provided, is a. opportunity cost principle. This principle suggests that the length of the movie does not inherently determine its value. Instead, it is the quality of the experience relative to other possible uses of one's time. For instance, in Selena's scenario, continuing to watch a movie that she finds terrible represents an opportunity cost, namely the loss of something she could be doing instead that would offer greater satisfaction or benefit. Thereby, her decision should be based on weighing the marginal costs and benefits of her current and future options rather than just considering the sunk cost of the movie ticket.

Answer 2

a. opportunity cost principle, the length of the movie does not matter as long as watching a movie is the best way to spend your time compared to other alternatives.

Step-by-step explanation:

In the given case since it is mentioned that longer movies would be more better as compared with the shorter movies also the price for the both would be the same so here the opportunity cost principle is applied i.e. the movie length is not relevant here as it is considered to spend your time by watching a movie

So the first option is correct