You are given a free ticket to see the Spartans mens basketball team play for th
ID: 1193088 • Letter: Y
Question
You are given a free ticket to see the Spartans mens basketball team play for the league championship. The NY knicks are playing on the same night and is your next-best alternative activity. Tickets to see the knicks cost $40. on any given day you would be willing to pay up to $50 to see the knicks Play. Assume there are no other costs of attending either Game. Based in this inforamtion, the opportunity cost of going to the Spartans mens basketball game is (CHOOSE the BEST ANSWER)
a.)$0 b.)$10 c.)$40 d.)50Explanation / Answer
Opportunity cost of going to the Spartans mens basketball match would be
$40.
Opportunity cost is the next best alternative scarifice.On the day of Spartans match the other best option available with You is the NY knicks which cost $40.Thus your next best alternative sacrifice for spartans match is $40.
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