You have made the decision to attend summer school, which prevents you from working at your usual summer job for 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

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The opportunity cost includes both the foregone earnings from the summer job ($6,000) and the direct costs of attending summer school (tuition $3,000 + books and supplies $1,300), totaling $10,300.

You Have Made the Decision to Attend Summer School, Which