Question

Brown wants to go to a concert but is scheduled to work. If you get it covered, what kind of cost is he incurring?

a) Opportunity cost
b) Fixed cost
c) Variable cost
d) Sunk cost

Answer 1

Brown would incur an opportunity cost if he gets his work covered and goes to the concert.

Step-by-step explanation:

The type of cost that Brown would incur if he gets his work covered and goes to the concert is opportunity cost. Opportunity cost refers to the value of the best alternative that is forgone when a choice is made. In this case, the forgone alternative is the income Brown would have earned from working.