Jonathan mendez is deciding whether to study for his economics exam at a cafÃ© down the street or go to a concert a few cities over. the time spent commuting to the concert is in his opportunity cost calculations and represents a _ cost.

Answer

Implicit cost, the time spent commuting is included in Jonathan's opportunity cost calculations as an implicit cost.

Q: What is opportunity cost? A: Opportunity cost is the cost of the next best alternative forgone.
Q: Is the time spent commuting to the concert relevant in Jonathan's opportunity cost calculations? A: Yes.
Q: What type of cost does the time spent commuting to the concert represent in Jonathan's opportunity cost calculations? A: The time spent commuting to the concert represents an implicit cost.

Jonathan mendez is deciding whether to study for his economics exam at a cafÃ© down the street or go to a concert a few cities over. the time spent commuting to the concert is ____ in his opportunity cost calculations and represents a _____ cost.