It’s Friday night. You already have a ticket to aconcert, which cost you $30. A friend invites youto go out for a game of paintball instead. Admission would cost you $25, and you think you’d get$25 worth of enjoyment out of it. Your concertticket is nonrefundable. What is your opportunitycost (in dollars) of playing paintball?
It’s Friday night. You already have a ticket to aconcert, which cost you $30. A friend invites youto go out for a game of paintball instead. Admission would cost you $25, and you think you’d get$25 worth of enjoyment out of it. Your concertticket is nonrefundable. What is your opportunitycost (in dollars) of playing paintball?
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter22: Contemporary Issues In The U.s. Economy
Section: Chapter Questions
Problem 2DQ
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Question
It’s Friday night. You already have a ticket to a
concert, which cost you $30. A friend invites you
to go out for a game of paintball instead. Admission would cost you $25, and you think you’d get
$25 worth of enjoyment out of it. Your concert
ticket is nonrefundable. What is your opportunity
cost (in dollars) of playing paintball?
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