Please circle the best answer to the following question:I think the question is both stupid and badly worded, but I should still get it right after 6 figures of education in the subject...
‘You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your next-best alternative. Tickets to see Dylan cost $40. On any given day, you would be willing to pay up to $50 to see Dylan. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost of seeing Eric Clapton?
(a) $0
(b) $10
(c) $40
(d) $50.
Bah. Mathiness.
3 comments:
I think that has to be one of the worst hypothetical questions I've ever seen. One of the things that I hate about economists is the way they bill themselves as "realists" and "real-world" scholars, when they're at least as theoretical and abstract as any other social scientist, and less useful than most.
:Please circle the best answer to the following question:
The answer is none of the above and $350 dollars to replace the monitor I just ruined by doing what you asked.
(It's your fault I used an indelible marker while circling my choice)
Can't you just use some white-out?
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