Problem
Opportunity Cost and Positive
Alex, a loyal customer of "Oxcam" department store, participated in a prize- draw program and won a ticket to a Panthers' game. Unfortunately, the game is scheduled for the same day as the football match between Liverpool and Manchester United. Since he cannot watch the two games simultaneously, he must make a choice.
He can see the Panthers' game for free since he won it as a prize. However, he need to spend $20 for a ride to the stadium. He values the game at $60.
On the other hand, if he chooses to watch the Liverpool v. Manchester United match, he may resell the Panthers v. Eagles ticket for $50. However, he has to spend about $30 to watch the match in a sports bar near his home.
He values this match at $50 He also has the option of working overtime and get an additional pay of $60
What is the opportunity cost of going to the Panther's game?
Which option should he take?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.