Bill Hogan graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later, even though he could continue to play football at $2 million a year, he quits football to make movies for $3 million a year. His opportunity cost of playing football at graduation was _______ and eight years later the opportunity cost of making movies was _______.

Question

Quizplus · Accepted Answer

At graduation, the opportunity cost of playing football was the $50,000 he could have earned coaching. Eight years later, the opportunity cost of making movies was the $2 million he could have earned by continuing to play football.

Bill Hogan Graduates from College with a Choice of Playing