Ask Question
BusinessBusiness
17 January, 10:34

When computing the opportunity cost of attending a basketball game you should include

a. neither the price of the ticket nor the value of your time?

+3
Answers (1)
  1. 17 January, 10:40
    0
    Answer: The price you pay for the ticket and the value of your time.

    Explanation: Opportunity cost is the cost of the next best alternative that is foregone. It can be calculated as the cost of the alternative chosen plus the cost of the alternative which is not chosen. So, when going for a basket ball game, the opportunity cost will include the price of the basketball game ticket as well as the value of your time. Since you could have utilized this time in doing something else more productive. So, even you time has an opportunity cost.

    Thus, the correct option is price you pay for the ticket and the value of your time.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When computing the opportunity cost of attending a basketball game you should include a. neither the price of the ticket nor the value of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The authentication classification method of Personal Characteristic is most closely described as a:
Answers (1)
The person in charge of the housekeeping department is known as which of the following? Executive housekeeper Top housekeeper Front office manager All of the above
Answers (1)
A stock currently sells for $63. The dividend yield is 3.6 percent and the dividend growth rate is 4.9 percent. What is the amount of the dividend to be paid in one year
Answers (1)
Communication has the best chance of being interpreted accurately when:
Answers (1)
Scoresby Co. uses 3 machine hours and 1 direct labor hour to produce Product X. It uses 4 machine hours and 8 direct labor hours to produce Product Y.
Answers (1)
New Questions in Business
Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution.
Answers (1)
Older adults who participated in 20 one-hour video game training sessions with the program lumosity showed reduction in their:
Answers (1)
The total of tools, equipment, machinery, and buildings used to produce goods and services is called supply. True or False
Answers (1)
What percentage of federal revenues is made up of corporate taxes
Answers (1)
F Rudy offers Oscar $200 for his laptop valued at $600 and Oscar agrees, a court will probably
Answers (1)
Home » Business » When computing the opportunity cost of attending a basketball game you should include a. neither the price of the ticket nor the value of your time?
Sign Up Forgot Password?