Question

Tammie makes $150 a day as a bank clerk. She takes off two days of work without pay to fly to another city to attend the concert of her favorite music group. The cost of transportation for the trip is $250. The cost of the concert ticket is $50. What is the opportunity cost of Tammie’s trip to the concert?

Answer 1

Well, just add up all the loses...

$300 = what Tammie will lose without pay
$250 = transportation for the trip
$50 = concert ticket price

$150 + $150 + $250 + $50 = $600

So the opportunity cost of Tammie's trip to the concert is 600 dollars.