We appreciate your visit to From 7 PM to 10 PM Josh can either attend a basketball game a wrestling match or a concert Suppose that Josh decides to attend. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer: Going to the concert.
Explanation: The opportunity cost is simply the loss incurred by choosing a certain option over another. It is simply the cost of the opportunity forgone. In the scenario above, There are three choices : A wrestling match, a basketball match and a concert. However, Josh decision was considering two of the choices ; the wrestling match and the concert. Therefore, if Josh eventually ends opts for the wrestling match, then the opportunity forgone or cost will be the CONCERT.
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