Opportunity cost analysis. Cliff Lawrence owns an ice skating rink that accommodates 200 people. Cliff charges SI

Question:

Opportunity cost analysis. Cliff Lawrence owns an ice skating rink that accommodates 200 people. Cliff charges SI 0.00 per hour to skate. Attendants receive SI 00 per day to staff the entrance booth at CL Skating. Utilities and other fixed costs average

$2,000 per month.

Recently, the manager of an out-of-town hockey team approached Cliff concerning renting the rink for a full day of practice on an upcoming Sunday for the lump sum of SI. 000.

Attendants would not be needed. CL's normal operating hours on Sunday are 10 am to 7 pm and the average attendance is 10 skaters per hour. What is the opportunity cost of accepting the offer?

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