Question

Suppose that you deciding between seeing a move and going to a concert on a particular Saturday evening. You are willing to pay $20 to see the movie and the movie ticket costs $5. You are willing to pay $80 for the concert and the concert ticket costs $50. The opportunity cost of going to the movie is:

Answer 1

Answer:

the movie opportunity cost is $50

Explanation:

The opportunity cost is the cost of the rejected alternative. It is the alternative we are not doing for doing what we choose.

The opportunity cost for going to the movie is: not going to the concert

The concert ticket cost $50

The amount I'm willing to pay has no relevance.