​Stuck in Cleveland
You purchased a roundtrip ticket to a friend's wedding in Cleveland on Saturday for $400,but on Sunday you discover your return flight is canceled due to weather.The airline will not be able to get you back home until late Monday but Greyhound has an overnight bus route that arrives at 6:00am Monday for $60.What is the opportunity cost of missing work on Monday?

Opportunity Cost

The value of the next best alternative forgone as a result of making a decision, a key concept in economics reflecting the potential benefits missed when choosing one option over another.

Roundtrip Ticket

A transportation ticket that allows an individual to travel to a destination and return back to the original departure point.

Return Flight

A flight heading back to the point of origin, typically part of a round-trip ticket.