Suppose that your tuition to attend college is $5,000 per year and you spend $5,000 per year on room and board.If you were working full time,you could earn $22,000 per year.What is your opportunity cost of attending college?
A) $13,000
B) $27,000
C) $30,000
D) $35,000

Question

Quizplus · Accepted Answer

The opportunity cost of attending college includes both the explicit costs (tuition and room and board, totaling $10,000) and the implicit cost (the forgone income from not working, which is $22,000). Adding these together gives $32,000 as the total opportunity cost.

Suppose That Your Tuition to Attend College Is $5,000 Per