From 7pm to 10 PM, Josh can either attend a basketball game, a wrestling match or a concert. Suppose that Josh decides to attend the wrestling match and thinks to himself that if he did not go to the match he would go to the concert. The opportunity cost of attending the wrestling match is

Going to the concert.

Explanation: The opportunity cost is simply the loss incurred by choosing a certain option over another. It is simply the cost of the opportunity forgone. In the scenario above, There are three choices : A wrestling match, a basketball match and a concert. However, Josh decision was considering two of the choices ; the wrestling match and the concert. Therefore, if Josh eventually ends opts for the wrestling match, then the opportunity forgone or cost will be the CONCERT.

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