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

Quizplus · Accepted Answer

The opportunity cost includes both the explicit costs of $3,000 for tuition and $1,300 for books and supplies, plus the foregone earnings of $6,000, totaling $10,300.

You Have Made the Decision to Attend Summer School, Which