Before reading the rest of the thread, read and answer this, dont post the answer
You won a free ticket to see an Eric Clapton concert (which
has no resale value). Bob Dylan is performing on the same night
and is your next-best alternative activity. Tickets to see Dylan cost
$40. On any given day, you would be willing to pay up to $50 to
see Dylan. Assume there are no other costs of seeing either
performer. Based on this information, what is the opportunity cost
of seeing Eric Clapton?
A. $0
B. $10
C. $40
D. $50
look at this paper afterwards
http://www2.gsu.edu/~wwwcec/docs/ferrarotaylorbep.pdf
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this study is flowing amongst students in our college lately
thoughts? Is the current situation really that sad? Does it even matter? Did you answer correctly? Is current econ really "broken"?
plz dont turn this into praxeology vs the rest of the world debate.