Opportunity cost is of course is the value of time doing one thing (say watching a baseball game) that is forgone in order to do something else (say stand in line at concession stands, or point out dudes in jeans shorts [or both!]).
Now suppose the dollar value of a college educated blogger’s time is worth roughly $30 an hour. I submit for your review an opportunity cost computation of the Padres dollar days promotion from Friday, July 11th, 2008.
- $0 – They ran out of soda, but provided free Raspberry Iced tea. Though I wouldn’t bank on that, I’m a sweet talker.
- $3 – Three hot dogs, limit four items per blogger.
- $15 – Opportunity cost of waiting in line for 30 minutes.
Total expenses: $18
The final three home games for the promotion are Monday the 28th though Wednesday. Concessions lines move much slower than usual. Don’t believe everything you read.