Which of the following is an implicit cost of going to college?
A)tuition.
B)cost of books and supplies.
C)room and board.
D)foregone wages.

Question

Quizplus · Accepted Answer

Foregone wages refer to the income that a person could have earned if they were not in school. This is an opportunity cost that is often overlooked when considering the cost of education. Therefore, D is the correct answer as it describes an implicit cost of going to college. A, B, and C are all explicit costs as they involve direct expenses that must be paid for attending college.

Which of the Following Is an Implicit Cost of Going