Your opportunity cost of attending a football game is
A) the subjective value of the disappointment you will feel if your team loses.
B) the monetary cost of the drinks and food you purchase at the game.
C) the price of the ticket.
D) the highest valued alternative forgone because of the time and money required to attend the game.

Question

Quizplus · Accepted Answer

Opportunity cost is the highest valued alternative forgone because of the time and money required to attend the game. Going to the football game means you cannot be doing something else during that time and any money spent on the game cannot be used for something else. The subjective value of disappointment or the cost of food and drinks are not opportunity costs in this scenario.

Your Opportunity Cost of Attending a Football Game Is