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Presume you can go to the gym for up to six hours in a day in finely divisible units and you paid a $50 non-refundable registration fee when you joined the gym last year. There is also a daily $1 fee which should be paid to enter the gym on any given day. How much must you value going to the gym in order to go workout on any given day? Is the $50 registration fee part of that calculation? Why or why not?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91226604

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