You purchase baseball tickets last month when the team was doing poorly. You paid $100 a non-refundable ticket. Your best friend offered you $130 for the ticket now that the team is doing well. The opportunity cost of going to the game is:
d. None of the above
Opportunity cost is a forgone benefit from choosing a specific course of action by the management. It is the gain or loss that can be recognized by the company if the company chose another alternative.
Answer and Explanation:
See full answer below.
Become a member and unlock all Study Answers
Start today. Try it nowCreate an account
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
fromChapter 3 / Lesson 8
What is the law of increasing opportunity cost? Learn how to calculate opportunity cost, see law of increasing opportunity cost examples, and view graphs.