Questions: Timothy O'Toole's Pub in Chicago sports bar has seen its business slow down over time. FTW Chicago bar and entertainment space opened nearby. Since the opening of FTW, how has this opportunity cost of going to Timothy O'Toole's changed for the pub's customers who also like FTW? A Increased B Decreased C Ceteris paribus D Unchanged

The answer is A Increased

The opportunity cost of going to Timothy O'Toole's Pub has increased for customers who also like FTW. This is because the opening of FTW provides an alternative option that these customers value. When they choose to go to Timothy O'Toole's, they are forgoing the experience they could have had at FTW, which they also enjoy. Therefore, the opportunity cost, which is the value of the next best alternative foregone, has increased.

This option is incorrect because the presence of a new, appealing alternative (FTW) means that the opportunity cost of choosing Timothy O'Toole's over FTW has not decreased; rather, it has increased.

Ceteris paribus means "all other things being equal." This option is not applicable because the situation has changed with the introduction of FTW, affecting the opportunity cost.

This option is incorrect because the opening of FTW has introduced a new alternative, thereby changing the opportunity cost for customers who like both venues.

This option does not directly address the concept of opportunity cost in this context. It refers more to the distribution of resources rather than the cost of choosing one option over another.