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What is the opportunity cost

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Reference no: EM132115856

You won a free ticket to see a Drake concert. The ticket normally sells for $90, but you cannot sell yours. Arcade Fire is performing on the same night and is your next-best alternative activity. (That is, if you do not go to the Drake concert, you will go to the Arcade Fire concert.) While the price of a ticket to the Arcade Fire is $80, on any given day, you would be willing to pay up to $130 to see Arcade Fire. Assume there are no other costs of seeing either performer.

Based on this information, what is the opportunity cost, in dollars, of seeing Drake?

Reference no: EM132115856

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