You have the evening free. You have a choice between going to a concert with a friend or studying economics for three hours. If you go to the concert, you will spend $35.00 on a ticket and $15.00 on snacks. If you choose to study economics for three hours, you will raise your exam grade by 20 points. From the above information, what is your opportunity cost of going to the concert

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Q: What is an real-life example of a opportunity cost?

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Q: What is an Opportunity Cost in economics? Answer by giving an example.

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A: Income = 40

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Q: What is the opportunity cost of going to a movie? the price of the ticket the price of the ticket…

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