Ahead of you is a wonderful weekend. You bought a ticket to see a professional f

Question

Ahead of you is a wonderful weekend. You bought a ticket to see a professional football game. The ticket cost $50 a piece, plus you estimate a cost of $25 each for gas to the game and parking. Since the game is in the middle of the afternoon, you arrange to get the day off of work. Normally you make $75 per day at your job. The day of freedom ahead of you has you daydreaming of all the other things you could do with your time instead of going to the game. Flying to Florida for example. It would be nice to go despite the four-hour, one-way flight. You recently saw a round-trip fare of $330 to Florida. What is the opportunity cost of your day at the professional football game?

Explanation / Answer

You would be spending 50$ for the ticket and $25 for gas and parking. Also you would not be earning those 75$ from your job since you would be taking the day off. So the opportunity cost of your day at the professional football game is 50+25+75 = $150

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.