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Stephon Dillard
on Dec 05, 2024

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A friend comes up to you and offers you a free ticket to a professional baseball game that night.You decide to attend the game.The game takes five hours and costs you $15 for transportation.If you had not attended the game,you would have worked at your part-time job for $8 an hour.What is the cost to you of attending the game?

A) The cost is zero-the ticket is free.
B) $65
C) $40
D) $55

Forgone Income

Income that is lost when an individual chooses not to engage in a certain activity or job, representing an opportunity cost.

Part-time Job

Employment with fewer hours per week than a full-time position, often offering flexibility but with lesser benefits.

Professional Baseball Game

A regulated and officially sanctioned sport event featuring teams of professional baseball players.

  • Gain an understanding of how opportunity cost influences choices within economics.
  • Utilize the idea of opportunity cost in regular financial and non-financial decisions.
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Arden TondalayoDec 10, 2024
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