are given a ticket to a Bob Dylan concert with a face valueof $50. You only value the ticket at $40, sell it to a friend for $40and attend a U2 concert priced at $60. The opportunity cost ofattending the U2 concert is:

Question

Quizplus · Accepted Answer

The opportunity cost of attending the U2 concert is the value of the next best alternative, which is the Bob Dylan concert that was sold for $40 instead of attending it. Therefore, the opportunity cost is $60 - $40 = $20 worth of alternative goods and services. Therefore, the best choice is D.

Are Given a Ticket to a Bob Dylan Concert with a Face