Bill Gates dropped out of college and founded Microsoft. His opportunity cost of continuing to attend college was

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative foregone. In this case, the opportunity cost of Bill Gates dropping out of college was the benefits he could have gained from continuing his education, such as a degree and the knowledge and skills he could have acquired. The cost of tuition, books, and room and board would have been incurred regardless of whether he dropped out or continued to attend college. Therefore, the best choice is C, which includes the income from his Microsoft pursuits as the opportunity cost of not continuing college.

Bill Gates Dropped Out of College and Founded Microsoft