Edmond has already bought a non-refundable ticket for the magic show tonight. He expects to gain $52 of enjoyment from the magic show. Suddenly, a $20 ticket becomes available for an international concert pianist show tonight. He expects to gain 50% more enjoyment from the concert pianist show than from the magic show because he is a fan of this pianist. Assume that there are no other costs or benefits involved and he cannot sell the magic show ticket. Select the item from the list provided to make the following statements true. The opportunity cost (in dollars) of attending the concert pianist 1. $52 show is 2. sunk cost Using the cost benefit principle, Edmond should attend the 3. $0 Once the ticket is purchased for the magic show, economists 4. magic show consider this to be a/an in terms of decision 5. $32 making. 6. concert pianist show 7. opportunity cost 8. deadweight cost 9. average cost 10. least expensive show 11. marginal cost 12. most popular show