Question

The opportunity cost of buying a ticket to a major league baseball game and then going to the game is: the time spent at the game. the next best alternative that could have been undertaken. all other alternative activities that could have been undertaken. the price of the ticket.

Answer 1

Answer:

. the next best alternative that could have been undertaken.

Explanation:

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives

Assume that the next best option instead of attending the game is to study for a test. this is the opportunity cost

the price of the ticket is known as the explicit cost. Explicit cost includes the amount expended in carrying out a particular activity