
Ronnie waits one hour in line to buy a ticket to a rock concert. The opportunity cost of buying the $28 ticket
A) is Ronnie's best alternative use of the $28.
B) is Ronnie's best alternative use of the one hour it took to wait in line.
C) is the value of the $28 to the ticket agent.
D) is Ronnie's best alternative use of both the $28 and the one hour spent in line.
E) cannot be measured because there is no opportunity cost associated with consumption.
Correct Answer:
Verified
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