P 2-10: Verdi Opera or Madonna?You won a free ticket to see Verdi's Aida...

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Accounting

P 2-10: Verdi Opera or Madonna?
You won a free ticket to see Verdi's Aida opera. The ticket hasno resale value, but since you enjoy Verdi operas, you would bewilling to pay $30 for the ticket had you not received it for free.Madonna is performing on the same night. There is absolutelynothing else you can do that night other than either attending theVerdi opera or the Madonna concert. Tickets to the Madonna concertcost $160. On any given day, you would be willing to pay up to $200to see Madonna because you are such a big fan. Assume there are noother costs of seeing either the Verdi opera or Madonna. What isthe opportunity cost of attending the Verdi opera?

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There are 2 options 1st attend Verdi opera concert cost of which is 0 as free ticket is won 2nd attend Madonna concert cost of which is 160 200 are fictitious and 160 is actual cost of ticket There is absolutely nothing See Answer

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In: AccountingP 2-10: Verdi Opera or Madonna?You won a free ticket to see Verdi's Aida opera....P 2-10: Verdi Opera or Madonna?You won a free ticket to see Verdi's Aida opera. The ticket hasno resale value, but since you enjoy Verdi operas, you would bewilling to pay $30 for the ticket had you not received it for free.Madonna is performing on the same night. There is absolutelynothing else you can do that night other than either attending theVerdi opera or the Madonna concert. Tickets to the Madonna concertcost $160. On any given day, you would be willing to pay up to $200to see Madonna because you are such a big fan. Assume there are noother costs of seeing either the Verdi opera or Madonna. What isthe opportunity cost of attending the Verdi opera?