A friend offers you a ticket to a Chicago Cubs baseball game for $50. You know you

Question:

A friend offers you a ticket to a Chicago Cubs baseball game for $50. You know you can sell the ticket to another friend for $75. What is the of buying the ticket but then choosing to go to the game?
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...