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Takes approximately 4 hour - PowerPoint PPT Presentation

opportunity costs

1. You bought a ticket for $50 to a concert. You value your time at $10/hour. The concert is expected to last 2 hours. As you are walking into the arena someone offers you $75 for your ticket. What is the opportunity cost of attending the concert ? $20 time cost + $75=$95.

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Takes approximately 4 hour - PowerPoint PPT Presentation

opportunity costs