Consider the opportunity costs you identified in Question 4-27. Are they relevant to the decision of the airline to upgrade certain people? Which, if any, of these would be likely to be included in the accounting records? Why or why not?

Data From Question 4-27:

Many airline frequent-flier programs upgrade elite (high volume) flyers one, three, or five days in advance from economy to first class. What are the differential costs of doing this? What are the opportunity costs? What are the opportunity costs of not doing this?