The annual income that could have been earned by investing the funds that were used for a college education is part of the opportunity cost of attending college.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the benefits that are given up when choosing one option over another. In this case, the opportunity cost of attending college is the income that could have been earned if the funds used for education were invested instead. Therefore, the statement is true.

The Annual Income That Could Have Been Earned by Investing