An economic explanation as to why individuals such as Bill Gates and LeBron James don't finish college is that:
A) the sunk cost of college is very high for them.
B) the opportunity cost of college is very high for them.
C) the benefits of additional college exceed the costs of additional college for them.
D) the decision not to finish college is irrational.

Question

Quizplus · Accepted Answer

The opportunity cost of college is the value of the best alternative use of a resource. For individuals like Bill Gates and LeBron James, who have already achieved significant success in their careers, the potential earnings from continuing their education may not outweigh the potential earnings from continuing to focus on their career. Therefore, the opportunity cost of attending college is very high for them, making it economically rational to not finish college.

An Economic Explanation as to Why Individuals Such as Bill