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Your brother gave you a ticket to a hockey game as a birthday gift. The ticket cost your brother $30. Your benefit from attending the game, expressed in dollars, is $47. On day of the game, you get a last-minute ticket to attend your favorite opera. The opera ticket costs $17 and you value watching the performance at $75. If you go to the opera, you can sell your hockey ticket online for $47. What is your opportunity cost of attending the hockey game instead of the opera? Enter a number only, without the $ sign.

Your brother gave you a ticket to a hockey game as a birthday gift. The ticket cost your brother $30. Your benefit from attending the game, expressed in dollars, is $47. On day of the game, you get a last-minute ticket to attend your favorite opera. The opera ticket costs $17 and you value watching the performance at $75. If you go to the opera, you can sell your hockey ticket online for $47. What is your opportunity cost of attending the hockey game instead of the opera? Enter a number only, without the $ sign.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Your brother gave you a ticket to a hockey game as a birthday gift. The ticket cost your brother $30. Your benefit from attending the game, expressed in dollars, is $47. On day of the game, you get a last-minute ticket to attend your favorite opera. The opera ticket costs $17 and you value watching the performance at $75. If you go to the opera, you can sell your hockey ticket online for $47. What is your opportunity cost of attending the hockey game instead of the opera? Enter a number only, without the $ sign. 58 105 If you attend the hockey game you are giving up the chance to sell the hockey ticket and attend the opera. The value of attending the opera is $75, but you have to subtract off the cost of opera ticket and add in the extra money you get from selling the hockey ticket.
Transcribed Image Text:Your brother gave you a ticket to a hockey game as a birthday gift. The ticket cost your brother $30. Your benefit from attending the game, expressed in dollars, is $47. On day of the game, you get a last-minute ticket to attend your favorite opera. The opera ticket costs $17 and you value watching the performance at $75. If you go to the opera, you can sell your hockey ticket online for $47. What is your opportunity cost of attending the hockey game instead of the opera? Enter a number only, without the $ sign. 58 105 If you attend the hockey game you are giving up the chance to sell the hockey ticket and attend the opera. The value of attending the opera is $75, but you have to subtract off the cost of opera ticket and add in the extra money you get from selling the hockey ticket.
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