Matt and Ann both decide to go to a concert with free tickets. We know that
A) both bear an opportunity cost since they could have done other things instead of see the concert.
B) both bear the same opportunity cost since they are doing the same thing.
C) the cost of going to the concert is greater for the one who had more choices to do other things.
D) neither bears an opportunity cost because the tickets were free.

Question

Quizplus · Accepted Answer

Both Matt and Ann could have done other activities instead of going to the concert, so they have an opportunity cost. Even though the tickets were free, they are still sacrificing the opportunity to do something else.

Matt and Ann Both Decide to Go to a Concert