Suppose you find €30. If you choose to use the €30 to go to a football match, your opportunity cost of going to the game is:
A) Nothing, because you found the money.
B) €30 (because you could have used the €30 to buy other things) plus the value of your time spent at the game.
C) €30 (because you could have used the €30 to buy other things) plus the value of your time spent at the game, plus the cost of the dinner you purchased at the game.
D) €30 (because you could have used the €30 to buy other things).
E) None of these answers

Question

Quizplus · Accepted Answer

The opportunity cost of going to the football match is the value of what you could have done with the €30 if you did not go to the game. Therefore, the opportunity cost is €30 plus the value of the time you spent at the game. Option C is incorrect because the cost of the dinner is not necessary to include in the opportunity cost. Option A and D are incorrect because even though you found the money, you still have alternative uses for it. Therefore, the answer is B.

Suppose You Find €30