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.
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.
E)all the costs of living for that period.

Question

Quizplus · Accepted Answer

The opportunity cost of going to college includes both tuition and the value of the student's time. When a student goes to college, they not only have to pay for tuition and other fees, but they also have to sacrifice the time they could have spent working and earning money. This time could have been spent earning an income or gaining work experience, and this loss should also be factored in when considering the opportunity cost of going to college.

The Opportunity Cost of Going to College Includes