Multiple Choice
Ian paid $475 for an airline ticket to fly to Acapulco,Mexico for a spring break vacation.Unfortunately,he fell ill and could not go to Acapulco.When he called the airline to cancel the ticket,he was reminded that the ticket was non-refundable,but that he could exchange it for another ticket within one year if he pays a $75 fee at the time of the exchange.Several months later he is deciding whether to exchange the ticket for a ticket of the same price to Acapulco.The opportunity cost of going to Acapulco would equal
A) the ticket price of $475 plus the $75 exchange fee,if he has no other trip that he will take within the year.
B) the ticket price of $475 plus the $75 exchange fee,if he has another trip that he will take within the year.
C) the $75 exchange fee,if he has no other trip that he will take within the year.
D) the $75 exchange fee,if he has another trip that he will take within the year.
E) $0,if he has no other trip that he will take within the year.
Correct Answer:

Verified
Correct Answer:
Verified
Q128: The cost-benefit principle<br>A) states that an action
Q129: The scarcity problem indicates _ and the
Q130: The study of individual choices and group
Q131: The extra cost that results from an
Q132: The Web site for this textbook can
Q134: The existence of the cost-benefit principle stems
Q135: Ethical or value standards are important for
Q136: Dividing the total cost of N units
Q137: The following table provides the costs (Cost
Q138: TechU College is an expensive private institution