1.You won a free ticket to see a concert (assume the ticket has no resale

value). Your favorite artist has a concert of the same night, and this

represents your next-best alternative activity. Tickets to the concert of

your favorite artist cost 800 pesos, and on any particular day, you would

be willing to pay up to 1,000 pesos to see this artist. Assume that there

are no additional costs of seeing either show. Based on the information

presented, what is the opportunity cost of seeing the concert with free

ticket?

2.You were able to purchase two tickets to an upcoming concert for 1,000

pesos apiece when the concert was first announce three months ago.

Recently, you saw that TicketWorld was listing similar seats for 1,500 pesos

apiece. What does it costs you to attend the concert?