Question: Lilly bought a $ 1 2 5 fully refundable ticket to attend the Lollapalooza Music Festival. Because it features several of her favorite musicians, she

Lilly bought a $

125

fully refundable ticket to attend the Lollapalooza Music Festival. Because it features several of her favorite musicians, she would have been willing to pay up to $

200

to attend the festival. Her friend invites Lilly to go to the aquarium on the same day. That trip would cost $

50,

but she would be willing to pay up to $

100 .

.

What is Lilly's opportunity cost of going to the music festival?

.

What do you recommend that she does?

Lilly bought a $125 fully refundable ticket to attend the Lollapalooza

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