Question
Ben Chase currently has a ticket to the West Virginia vs. Virginia Tech football game. This ticket has already been paid for and cannot be
Ben Chase currently has a ticket to the West Virginia vs. Virginia Tech football game. This ticket has already been paid for and cannot be sold or transferred to anyone else.
Originally, the ticket cost to the game cost Ben $150 and getting from Ben's house to the game will cost him an additional $40. Ben is a huge college football fan trying to set the record for most college football games attended in a season (true story!). As a result, his maximum willingness to pay for the West Virginia vs. Virginia Tech game is $800.
However, scheduled the same day as the college football game is a touring production of Hamilton that Ben's friend is going to. His friend asks him to accompany him to Hamilton, but doing so would require purchasing a Hamilton ticket for $40 and also missing the college football game. In addition, it would cost $10 in transportation fees to get to the theater where Hamilton is showing. Ben's maximum willingness to pay for the Hamilton ticket is $300. Given all this information what is the overall total economic cost to Ben of attending the Hamilton production? (Hint: you are not just finding the opportunity cost here, but Ben's overall loss of attending Hamilton.)
Group of answer choices
$10
$50
$90
$660
$810
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