Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
The cost of college tuition
B
The income forgone from not working full-time
C
The value of the degree obtained after graduation
D
The price of textbooks purchased for courses
Understanding the Answer
Let's break down why this is correct
Answer
When thinking about the opportunity cost of attending college, it’s important to understand what you give up by choosing this path. Opportunity cost means considering the next best option you could have taken instead of going to college. For example, if you decide to attend college, you might miss out on starting a full-time job that pays well right after high school. This job could help you earn money and gain work experience while your friends are still in school. Therefore, the opportunity cost of attending college includes not only the money spent on tuition but also the income you could have earned by working instead.
Detailed Explanation
Choosing to attend college means you miss out on working full-time. Other options are incorrect because Some might think tuition is the main cost, but it's not a choice you could make instead; The value of the degree is a future benefit, not a choice you give up now.
Key Concepts
choice
economic efficiency
Topic
Analyzing Opportunity Costs
Difficulty
medium level question
Cognitive Level
understand
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