Suppose the NFL wants to give the "common fan" the opportunity to attend the Super Bowl,so it sets Super Bowl prices "low"-let's say they set ticket prices for a regular seat at Super Bowl LI to cost just $400.People who have tickets,however,can turn around and sell them online for $1,500 or more.If there are no transaction costs for fans with tickets to sell them,the true cost to a fan of attending Super Bowl LI is:
A)at most $400.
B)at least $1,500.
C)the monetary price paid to obtain the ticket.
D)$1,100 less than the opportunity cost of a ticket.

Question

Quizplus · Accepted Answer

The true cost to a fan of attending Super Bowl LI is the opportunity cost of $1,500 or more, which is the amount they could sell the ticket for. While they may have initially paid only $400 for the ticket, the ability to sell it for a much higher price demonstrates that the true value of the ticket is much higher than the initial cost.

Suppose the NFL Wants to Give the "Common Fan" the Opportunity