When computing the opportunity cost of attending a professional football game as a spectator, you should include
A)the price you pay for the ticket and the value of your time.
B)the price you pay for the ticket, but not the value of your time.
C)the value of your time, but not the price you pay for the ticket.
D)neither the price of the ticket nor the value of your time.

Question

Quizplus · Accepted Answer

Opportunity cost includes both the explicit costs (like the price of the ticket) and the implicit costs (like the value of your time that could have been spent doing something else).

When Computing the Opportunity Cost of Attending a Professional Football