When I buy an $8.00 movie ticket rather than two paperback books,the opportunity cost of going to the movie is the two paperback books I did not buy.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative that is forgone when an economic decision is made. In this case, when choosing to buy an $8.00 movie ticket, the opportunity cost would be the value of the two paperback books that could have been purchased instead. Therefore, the statement is true.

When I Buy an $8