Carl is considering attending a concert with a ticket price of $35.He estimates that the cost of driving to the concert and parking there will total an additional $20.In order to attend the concert,Carl will have to take time off from his part-time job.He estimates that he will lose 5 hours at work,at a wage of $6 per hour.Carl's opportunity cost of attending the concert equals
A) $35
B) $55
C) $30
D) $65
E) $85

Question

Quizplus · Accepted Answer

The opportunity cost includes the ticket price ($35), the cost of driving and parking ($20), and the lost wages from not working (5 hours x $6/hour = $30). The total opportunity cost is $35 + $20 + $30 = $85.

Carl Is Considering Attending a Concert with a Ticket Price