The opportunity cost of buying a ticket to a major league baseball game and then going to the game is:

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative forgone when a decision is made. In this case, the opportunity cost of buying a ticket and going to the game is the value of the next best alternative activity that could have been undertaken instead of going to the game. Therefore, the correct answer is B. The price of the ticket (A) and the time spent at the game (C) are not opportunity costs, as the ticket price is already incurred and the time spent at the game is a sunk cost. Option D is incorrect as it is too broad and includes all alternatives, not just the next best alternative.

The Opportunity Cost of Buying a Ticket to a Major