You have driven 800 miles on a vacation and then you notice that you are only 15 miles from an attraction you hadn't known about,but would really like to see.In computing the opportunity cost of visiting this attraction you had not planned to visit,you should include
A)both the cost of driving the first 800 miles and the next 15 miles.
B)the cost of driving the first 800 miles,but not the cost of driving the next 15 miles.
C)the cost of driving the next 15 miles,but not the cost of driving the first 800 miles.
D)neither the cost of driving the first 800 miles nor the cost of driving the next 15 miles.

Question

Quizplus · Accepted Answer

The opportunity cost of visiting the attraction includes only the additional cost incurred, which is the cost of driving the next 15 miles. The cost of the first 800 miles is a sunk cost and should not be considered.

You Have Driven 800 Miles on a Vacation and Then