The opportunity cost associated with the money spent on a domed stadium for Toronto is:
A) the dollar value of the cost of construction.
B) other goods and services that must be sacrificed in order to build the stadium.
C) the loss of government revenue used for the stadium.
D) not relevant since the stadium will bring in tourist dollars to the City of Toronto.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative that is foregone when a decision is made. In this case, it is the other goods and services that could have been provided with the resources used to build the stadium.

The Opportunity Cost Associated with the Money Spent on a Domed