Question

Lauren makes $150 a day as a bank clerk. she takes two days off work without pay to fly to another city to attend the concert of her favorite band. the cost of transportation and lodging for the trip is $250. the cost of the concert ticket is $50. the opportunity cost of lauren's decision to attend the concert is

Answer 1

The two days Lauren doesn't receive pay would be $150 × 2 = $300
Add on the cost of transportation & lodging: $300 + $250 = $550
Finally, add the cost of the concert ticket: $550 + $50 = $600

The opportunity cost of Lauren's decision to attend the concert is $600.