A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?
the cost of the jersey
the cost of the ball
the net value of the ball for the collector
the net value of the jersey for the collector
The opportunity cost for the collector choosing to purchase the hockey jersey would be the net value of the baseball for the collector. This is because by choosing to purchase the jersey, the collector is forgoing the potential value they could have gained from purchasing and owning the baseball that was struck for a home run.
