You purchase baseball tickets last month when the team was doing poorly. You paid $100 a non-refundable ticket. Your best friend offered you $130 for the ticket now that the team is doing well. The opportunity cost of going to the game is
A) $30
B) $70
C) $130
D) None of the above

Question

Quizplus · Accepted Answer

The opportunity cost of going to the game is the value of the next best alternative foregone, which in this case is selling the ticket to your friend for $130.

You Purchase Baseball Tickets Last Month When the Team Was