For a college student, the opportunity cost of attending a football game the night before an exam equals the ticket price plus the difference in her test score that the additional study time would have yielded.

Question

Quizplus · Accepted Answer

The opportunity cost includes both the explicit cost (ticket price) and the implicit cost (the value of the foregone benefit, in this case, the potentially higher test score from additional study time).

For a College Student, the Opportunity Cost of Attending a Football