The opportunity cost of attending college includes the cost of

Question

Quizplus · Accepted Answer

The definition of opportunity cost is the value of the next best alternative forgone. Therefore, the opportunity cost of attending college would include not only the tuition and fees but also the potential income from any alternative employment or activity that could have been pursued instead. Therefore, the highest valued alternative to attending college plus the cost of tuition is the most accurate representation of the opportunity cost of attending college.

The Opportunity Cost of Attending College Includes the Cost of