Suppose you purchased a ticket to a concert for 30 a month, Business Economics

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Suppose you purchased a ticket to a concert for 30 a month

Suppose you purchased a ticket to a concert for $30 a month ago. Last week someone invited you to a party on the same night as the concert. You would much rather go to the party than the concert. You have tried unsuccessfully to sell the concert ticket. You should go to the party since $30 you spent earlier is no longer relevant to this decision. Why or why not?

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Business Economics: Suppose you purchased a ticket to a concert for 30 a month

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