Consider your decision about whether to go skiing for the weekend. Suppose that all relevant expensestransportation, lift tickets, and accommodationsfor the weekend costs $450. Suppose also that restaurant food for the weekend will cost $50 more than normally spent on weekend meals. Finally, suppose that you have a weekend job that you will have to miss if you go skiing, which pays you $150 (after tax) per weekend.

What is the opportunity cost of going skiing? Do you need any other information before computing the opportunity cost?

A.

$700

B.

$650

D.

$250

E.

More information is needed to compute the opportunity cost.