Question

What is the least amount of money you would have to value seeing Kwan in order for you to choose the holiday on Ice Show​

Answer 1

Assume that you have been given a free ticket with no resale value to the holiday on Ice Show at Madison Square Garden featuring Michelle Kwan. At the same time, the Yankees are playing the Red Sox in New York which is your second best alternative activity. Tickets to the game cost is $ 38. You would be willing to pay $ 45 to attend the game. There is no additional costs of attending either event.