Suppose that your tuition to attend college is $24,000 per year and you spend $8,000 per year on room and board. If you were working full time, you could earn $30,000 per year. What is your opportunity cost of attending college for one year?
A) $32,000
B) $38,000
C) $54,000
D) $62,000

Question

Quizplus · Accepted Answer

The opportunity cost of attending college includes both the tuition and room/board costs ($24,000 + $8,000 = $32,000) and the foregone earnings from not working ($30,000), totaling $54,000.

Suppose That Your Tuition to Attend College Is $24,000 Per