Christopher bought a 125 ticket to attend nickelback, Ask an Expert

Economics

Christopher bought a $125 ticket to attend Nickelback concert in Red Rocks. Because it is his favorite rock group, he would be willing to pay up to $200 to attend the concert. However, his friend Keith invites Christopher to go with him to Water World in Denver, but he is only willing to pay up to $100. What is his opportunity cost of going to the Nickelback concert in Red Rocks ?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91952265

Have any Question?Write your Review or question?

Related Questions in Business Economics

Health care issues are receiving much attention in both

Health care issues are receiving much attention in both academic and political arenas. A sociologist recently conducted a survey of citizens over 60 years of age whose net worth is too high to qualify for Medicaid and ha ...

Suppose you roll a standard 6-sided die if you roll a 1 1

Suppose you roll a standard 6-sided die. If you roll a 1 (1), you randomly select one chip from a bowl containing 2 red (R) and 3 white (W) chips. If you don't roll a 1 (1c), you randomly select 1 chip from a bowl contai ...

1 under what circumstances is it advantageous for a company

1. Under what circumstances is it advantageous for a company competing in foreign markets to concentrate its value chain activities in a select few locations? Under what circumstances is it advantageous for a company com ...

Assume that your fathers business has a total market value

Assume that your fathers business has a total market value of $300.4 billion and a marginal tax rate of 35%. If it permanently changes its leverage from no debt by taking on new debt in the amount of 13% of its current m ...

Suppose a soft drink company want to perform a taste test

Suppose a soft drink company want to perform a taste test on 5 brands of diet cola. How many permutations are there for presenting 5 diet colas to test subjects?

Inverse elasticityimagine youve started a new pizza

Inverse Elasticity: Imagine you've started a new pizza restaurant. It costs you about $3 to produce a pizza. Last week you sold 450 pizzas for $12 each. This week you raised your price and sold 300 pizzas for $16 each. ...

Suppose the restaurant industry is perfectly competitive

Suppose the restaurant industry is perfectly competitive and all producers have identical cost curves. The industry is currently at a long-run equilibrium, with each firm producing at its minimum long run average total c ...

What are the implications of the shift from medical care to

What are the implications of the shift from medical care to the focus on overall health conditions?

Consider the following cournot oligopolythere are two

Consider the following Cournot oligopoly: There are two identical firms in the industry, which set their quantities produced simultaneously. The two firms face a market demand curve, Q = 120 - P, in which Q = q1 + q2. Ea ...

You have a deck of magic the gathering cards with 60 cards

You have a deck of Magic the Gathering cards with 60 cards total. In the deck you have 20 Mana cards, 18 Spells, 3 Artifacts, 12 Creatures, 6 Enchantments and 1 Planes Walker. What is the probability that you draw 2 arti ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert