What is the opportunity cost of going to university?

Question

Quizplus · Accepted Answer

The opportunity cost of going to university is the value of the best alternative opportunity that the student gives up, such as potential earnings from a job or starting a business. Option A is incorrect because it refers to the total expenses incurred, which is not equivalent to opportunity cost. Option C is incorrect because even if the expenses are paid by someone else, the opportunity cost still exists. Option D is incorrect because while earning a higher income is a potential benefit of attending university, it doesn't negate the fact that there is still an opportunity cost to attending.

What Is the Opportunity Cost of Going to University