Kevin is considering going to a rock concert. The ticket will cost him need to spend $3 on gas to drive to the venue and $8 on parking. It w hours to get there, attend the concert, and come back. If Kevin did no concert, he would work as a waiter at a nearby restaurant and earn $: What is Kevin's opportunity cost of attending the concert? (Enter a w e.g., 123.)
Kevin is considering going to a rock concert. The ticket will cost him need to spend $3 on gas to drive to the venue and $8 on parking. It w hours to get there, attend the concert, and come back. If Kevin did no concert, he would work as a waiter at a nearby restaurant and earn $: What is Kevin's opportunity cost of attending the concert? (Enter a w e.g., 123.)
Chapter2: Scarcity And Opportunity Costs
Section: Chapter Questions
Problem 14E
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M12
![Kevin is considering going to a rock concert. The ticket will cost him $56, and he will
need to spend $3 on gas to drive to the venue and $8 on parking. It will take him 3.
hours to get there, attend the concert, and come back. If Kevin did not go to the
concert, he would work as a waiter at a nearby restaurant and earn $15 per hour.
What is Kevin's opportunity cost of attending the concert? (Enter a whole number,
e.g., 123.)
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F78eaab00-3a05-424b-8a2e-8d13993a6b79%2F6ee197cb-0e58-4ef7-985b-adecd395dc19%2Fmyntto_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kevin is considering going to a rock concert. The ticket will cost him $56, and he will
need to spend $3 on gas to drive to the venue and $8 on parking. It will take him 3.
hours to get there, attend the concert, and come back. If Kevin did not go to the
concert, he would work as a waiter at a nearby restaurant and earn $15 per hour.
What is Kevin's opportunity cost of attending the concert? (Enter a whole number,
e.g., 123.)
$
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