Answer the Following Questions

Essay

Answer the following questions.
a. Marcie is enrolled in a Principles of Microeconomics class but mistakenly buys a macroeconomics book from eBay and cannot return it. She paid $80 for the book. Marcie's friend tells Marcie to read the macroeconomics book or otherwise she will have lost her $80. Explain whether you agree with Marcie's friend.
b. Peter is taking Intermediate Economics and decides to drop the course after the second midterm. Peter paid $180 for the course's textbook, which can be resold for $70 on barnesandnoble.com. What is Peter's sunk cost for the textbook?