Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. would there be a cost to you to attend this movie?

Respuesta :

Yes, because the opportunity cost of the movie is equal to the highest-valued alternative that must be sacrificed in order to attend the movie.

The opportunity cost of a specific activity in microeconomic theory is the value or benefit relinquished by engaging in that activity in comparison to participating in an alternative task. Simply put, if you choose one activity, you forfeit the opportunity to choose another. For example, the opportunity cost is the time spent taking classes and the money that could be spent on something else. A farmer decides to plant maize; the opportunity cost is sowing a different crop or using the resources in another way.

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