John purchases a baseball card for $10 that turns out to be

John purchases a baseball card for $10 that turns out to be

John purchases a baseball card for $10 that turns out to be so rare that a collector offers to buy it from him for $2,000. instead, john decides to give the card to his sister (an avid baseball-card collector) as a birthday present. the opportunity cost of john’s generosity is $10, the purchase price. $0, because at the time the decision is made, $10 are sunk cost, i.e., at that point there is no cost to john of giving the card away. $2,000, the amount offered by the collector. $1,005, the average of $10 and $2,000.

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