The opportunity cost of going to college includes:
A) both tuition and the value of the student's time.
B) tuition, but not the value of the student's time, which is a monetary cost.
C) neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
D) neither tuition nor the value of the student's time, at least at state-supported universities and colleges.

Question

Quizplus · Accepted Answer

The opportunity cost of going to college includes both tuition and the value of the student's time. Tuition is a monetary cost, while the value of the student's time is the income they could have earned if they had worked instead of going to college. Therefore, both should be considered when calculating the opportunity cost of college.

The Opportunity Cost of Going to College Includes