Jim is planning on attending a football game that costs $40.He will have to take the day off from the work losing 8 hours of work.His hourly wage is $10.He estimates it will cost him around $20 for gas and parking at the game.Jim's implicit (opportunity)cost of attending the game equals

Question

Quizplus · Accepted Answer

The implicit cost is the opportunity cost of not working, which is 8 hours x $10/hour = $80.

Jim Is Planning on Attending a Football Game That Costs