During the summer you have made the decision to attend summer school, which prevents you from working at your usual summer job in which you normally earn $6,000 for the summer. Your tuition cost is $3,000 and books and supplies cost $1,300. In terms of dollars, the opportunity cost of attending summer school is

Question

Quizplus · Accepted Answer

The opportunity cost includes both the direct costs of attending summer school ($3,000 for tuition and $1,300 for books and supplies) and the foregone earnings from not working ($6,000), totaling $10,300.

During the Summer You Have Made the Decision to Attend