Instead of buying a ticket to a concert, you wait in line all night to get free tickets being given away at a local radio station. You: O do not bear an opportunity cost because the ticket was free. bear an opportunity cost, which is what you would have otherwise done with yo time. Obear an opportunity cost, which is the price you would have paid for the ticket. Odo not bear an opportunity cost because all you gave up was some sleep.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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He does not have any trade-offs in this situation.
Instead of buying a ticket to a concert, you wait in line all night to get free
tickets being given away at a local radio station. You:
O do not bear an opportunity cost because the ticket was free.
bear an opportunity cost, which is what you would have otherwise done with yo
time.
O bear an opportunity cost, which is the price you would have paid for the ticket.
O do not bear an opportunity cost because all you gave up was some sleep.
The purpose of a production possibilities graph is to *
Transcribed Image Text:He does not have any trade-offs in this situation. Instead of buying a ticket to a concert, you wait in line all night to get free tickets being given away at a local radio station. You: O do not bear an opportunity cost because the ticket was free. bear an opportunity cost, which is what you would have otherwise done with yo time. O bear an opportunity cost, which is the price you would have paid for the ticket. O do not bear an opportunity cost because all you gave up was some sleep. The purpose of a production possibilities graph is to *
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