📚 Learning Guide
Analyzing Opportunity Costs
medium

When considering the opportunity cost of attending college, which of the following best represents a choice that could have been made instead?

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Learning Path
Learning Path

Question & Answer
1
Understand Question
2
Review Options
3
Learn Explanation
4
Explore Topic

Choose 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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