The salary that is sacrificed by a college student who pursues a degree full time is a(n):
A) sunk cost.
B) out-of-pocket cost.
C) opportunity cost.
D) differential cost.
E) marginal cost.

Question

Quizplus · Accepted Answer

The salary that a college student forgoes to study full time is considered an opportunity cost, as it represents the value of the next best alternative use of their time and resources (in this case, earning a salary).

The Salary That Is Sacrificed by a College Student Who