Question

Tammie makes $150 a day as a bank clerk. She takes off two days of work without pay to fly to another city to attend the concert of her favorite music group. The cost of transportation for the trip is $250. The cost of the concert ticket is $50. How much is the opportunity cost of Tammie’s trip to the concert?

Answer 1

Her loses are:
- 2 days without pay: 2 x $150 = $300
- the cost of transportation: $250
- the concert ticket: $50
$300 + $250 + $50= $600
The opportunity cost of Tammie`s trip to the concert is $600.