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  3. 1 2 points suppose that you are willing to pay...

Question: 1 2 points suppose that you are willing to pay...

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1. (2 points) Suppose that you are willing to pay 8100 to attend a concert. A ticket costs S60, uld be to go to dinner with a friend. The and the next-best alternative use of your ti cost of dinner is $30 and you value the experience of having dinner with your friend at S50 (a) What is the opportunity cost of attending the concert? (1 point) (b) What is the opportunity cost of going to dinner with your friend? (1 point)
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