If the total expenses of being a full-time college student for one year adds up $17,000, and that student could have earned $20,000 working full time during the same year, then the student's opportunity cost for the year of college would be

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Quizplus · Accepted Answer

The opportunity cost is the income that the student could have earned if they had not attended college. In this case, the student could have earned $20,000 working full time during the same year. Therefore, the student's opportunity cost for the year of college is $20,000.

If the Total Expenses of Being a Full-Time College Student