Ronnie waits one hour in queue to buy a ticket to a rock concert. The opportunity cost of buying the $28 ticket:
a. is Ronnie's best alternative use of the sum of $28 spent on the ticket.
b. is Ronnie's best alternative use of the one hour it took to wait in queue.
c. is the revenue of $28 earned by the ticket agent.
d. is Ronnie's best alternative use of both $28 and the one hour spent in the queue.
e. cannot be measured because there is no opportunity cost associated with consumption.
d
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A) in the market for gasoline B) in the market for ball pens C) in the market for flu shots D) in the market for cigarettes
When two U.S. firms announce a merger, and at least one of them meets the legal level of minimum sales, they must notify the:
a. Federal Trade Commission. b. Consumer Financial Protection Bureau. c. Better Business Bureau. d. Department of Commerce.