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.
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.
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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