Related to the Economics in Practice on p. 83: The true cost of the Shakespeare in the Park tickets is
A) zero.
B) $0 plus the opportunity cost of the time spent in line.
C) the cost to put on the performance.
D) the additional cost to the city of extra security.

Question

Quizplus · Accepted Answer

The true cost of the Shakespeare in the Park tickets includes the $0 monetary cost plus the opportunity cost of the time spent in line, reflecting the value of what could have been done instead during that time.

Related to the Economics in Practice on P