An economist would argue that the true cost of a college education exceeds the cost of tuition,housing,and books because of
A) opportunity cost.
B) invisible costs.
C) inflation.
D) tax credits.
E) scholarships.

Question

Quizplus · Accepted Answer

An economist would argue that in addition to the explicit costs (tuition, housing, and books), there are also implicit costs associated with attending college, which include opportunity cost of forgoing potential wages or job experiences during the years spent in school. Therefore, the true cost of college education exceeds the explicit costs that are paid directly.

An Economist Would Argue That the True Cost of a College