Asked by
Brendan whitehead
on Oct 27, 2024
Verified
Khalil is offered a free ticket to the opera,which he cannot resell.His opportunity cost of going to the opera is:
A) zero-the tickets were free.
B) the price listed on the ticket.
C) whatever Khalil would have done had he not gone to the opera.
D) the price listed on the ticket and whatever Khalil would have done had he not gone to the opera.
Opportunity Cost
The expense associated with missing out on the next most advantageous option when a decision is made, denoting the advantages one foregoes.
Opera Ticket
A pass or admission ticket to attend an opera performance, typically sold by the opera house or through various ticket venues.
Free Ticket
A complimentary pass or voucher granting the holder access to an event, activity, or service at no cost.
- Digest the concept of opportunity cost and its implications for making choices in several contexts.
- Analyze the impact of opportunity cost in the context of free goods and services.
Verified Answer
SL
Learning Objectives
- Digest the concept of opportunity cost and its implications for making choices in several contexts.
- Analyze the impact of opportunity cost in the context of free goods and services.