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Asked Sep 1, 2019
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Sam has two options this weekend. He could work at his job and earn $9/ hour for three hours, or he could go to the ahow at tje theater for that three hours. A ticket at the theater costs$30. What is the opportunity cost of going to the theater

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Expert Answer

Step 1

Next best alternative cost is the opportunity cost. If Sam is going to theatre, he would spend $30 for the ticket. Also he given up some amount that he can able to earn from the job. That is, $27 ($9 multiplied by 3hours).

Step 2

Thus, the opportunity cost of going to the...

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Opportunity cost = 27+30 =$57

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