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: a. $30 b. $10

Question:

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:

a. $30

b. $100

c. $130

d. None of the above

Opportunity Cost:

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:

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You purchase baseball tickets last month when the team was doing poorly. You paid $100 a...

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Opportunity Cost:

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