A student purchases a concert ticket for $50. Before entering the concert, the student is offered $75 for the ticket. If the student decides to keep the ticket and attend the concert, the opportunity cost is:

$75

Explanation:

The opportunity cost is the amount that you stand to lose if you do not take the next best alternative to your current course of action.

In this scenario that next best alternative is selling the ticket for $75 so this is the opportunity cost.

The $50 that was spent to buy the ticket is a sunk cost which means that it has already been incurred so it will not be accounted for in the opportunity cost analysis.

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.

i guess you could put raise the economic balance