A student purchases a concert ticket for $50. Before entering the concert, the student is offered $75 for the ticket. If the student decides to keep the ticket and attend the concert, the opportunity cost is:

Question

28-05-2021
Business

contestada

A student purchases a concert ticket for $50. Before entering the concert, the student is offered $75 for the ticket. If the student decides to keep the ticket and attend the concert, the opportunity cost is:

Respuesta :

Otras preguntas

Kimmy has 2 bags of candy. one of the bags has 4 2/3 pounds of candy and the other bag has 3 7/9 pounds of candy. she is going to split the candy evenly with 2

La (1) de Suramérica cuenta con dos hombres muy importantes: Simón Bolívar y José de San Martín. La lucha de ambos tuvo como resultado la (2) de varios países l

What were two reasons for immigrants supporting political machines?

What is a unitary system of government quizlet?

Where did the Japanese attack in Hawaii?

What is national debt

Multinational corporations only do business in their home countries TRUE OR FALSE

What is an example of totalitarianism today?

A toy rocket is launched from the ground level with an initial vertical velocity of 96 ft/s. After how many seconds will the rocket hit the ground

RELAXING NOICE

Parrain Parrain · Answer 1 · 2021-06-02T03:20:24+02:00

Answer: $75

Explanation:

The opportunity cost is the amount that you stand to lose if you do not take the next best alternative to your current course of action.

In this scenario that next best alternative is selling the ticket for $75 so this is the opportunity cost.

The $50 that was spent to buy the ticket is a sunk cost which means that it has already been incurred so it will not be accounted for in the opportunity cost analysis.