You Are Given a Ticket to a Bob Dylan Concert

question 185

Multiple Choice

You are given a ticket to a Bob Dylan concert with a face value of $50. You only value the ticket at $40, sell it to a friend for $40, and attend a U2 concert priced at $60. The opportunity cost of attending the U2 concert is:

• A) $20 worth of alternative goods and services.
• B) $40 worth of alternative goods and services.
• C) $50 worth of alternative goods and services.
• D) $60 worth of alternative goods and services.

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Definitions:

Lewin's Change Model

A three-stage theory of change known as unfreezing, change, and refreezing, which is used to implement change effectively within organizations.

Staff Rotation System

A system in which employees alternate their roles within the organization or between different geographical locations to gain skills and reduce monotony.

Surveys

A method of gathering information from individuals, usually by asking a series of questions, to collect data for analysis related to research or feedback purposes.

Personal Power

Power that is associated with admiration by others, which comes from such attributes as strength of character, passion, inspiration, or wisdom.