Question

Billie's Billiard Barn has seen its business slow down ever since Patti's Ping Pong Parlour opened up across the street. Since the opening of Patti's Ping Pong Parlour, the opportunity cost of shooting pool at Billie's Billiard Barn has _______

Answer 1

increased.

Step-by-step explanation:

Opportunity costs are defined as the extra costs (or lost benefits) resulting from choosing one activity (or investment) over another alternative.

Since Patti's Ping Pong Parlour opened, the opportunity cost of going to Billie's Billiarrd has increased by including ping pong activities. For example, the prior opportunity cost of going to play pool probably included time not spent playing some sport, studying, going to the park, etc., but now you have to add playing ping pong to it.