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Suppose someone has won a free ticket to see a Bruce Springsteen concert. This ticket has no resale value. Also suppose that U2 has a
Suppose someone has won a free ticket to see a Bruce Springsteen concert. This ticket has no resale value.
Also suppose that U2 has a concert the same night. The U2 concert represents the next-best alternative activity to the Springsteen concert. Tickets to the U2 concert cost $26, and on any particular day, someone would be willing to pay up to $200 to see U2. Assume that there are no additional costs of seeing either show.
Based on the information presented here, the opportunity cost of seeing Bruce Springsteen is$?
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