Monica Has Purchased a $25 Ticket to Attend a Concert

question 152

Multiple Choice

Monica has purchased a $25 ticket to attend a concert on Friday evening.Subsequently,she is asked to go to dinner and dancing at no expense to her.If she uses cost-benefit analysis to choose between going to the concert and going on the date,she should

• A) include only the entertainment value of the concert in the opportunity cost of going on the date.
• B) include the cost of the ticket plus the entertainment value of the concert in the opportunity cost of going on the date.
• C) include only the cost of the concert ticket in the opportunity cost of going on the date.
• D) include neither the cost of the ticket nor the entertainment value of the concert in the opportunity cost of going on the date.
• E) include the amount her date is likely to spend on dinner and dancing in the opportunity cost of going on the datE.

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Definitions:

Learning and Growth

A component of the Balanced Scorecard that focuses on the internal capabilities and development needed to support strategy implementation and innovation.

Performance Perspectives

Performance Perspectives are various viewpoints from which an organization's success and performance can be evaluated, often including financial, customer, internal process, and learning and growth aspects.

Financial

Relating to money or how money is managed.

Performance Perspectives

Frameworks or viewpoints for assessing an organization's performance, often including financial, customer, internal processes, and learning/growth aspects.