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23 April, 10:37

You are given a ticket to a Bob Dylan concert with a face value of $50. You only value the ticket at $40, sell it to a friend for $40, and attend a U2 concert priced at $60. The opportunity cost of attending the U2 concert is

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  1. 23 April, 14:16
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    Opportunity cost = $60

    Explanation:

    Data provided:

    Face value of the concert = $50

    Ticket value = $40

    Selling price of a ticket = $40

    U2 concert price = $60

    Now the opportunity cost of attending the U2 concert is

    = U2 concert price

    = $60

    As we have to find out the opportunity cost of U2 so we considered only the price which is charged to attending the U2 concert
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Home » Business » You are given a ticket to a Bob Dylan concert with a face value of $50. You only value the ticket at $40, sell it to a friend for $40, and attend a U2 concert priced at $60. The opportunity cost of attending the U2 concert is
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