A student spends four years in college. College tuition, fees, and room and board cost $10,000 per year. This student's opportunity cost of attending college is $10,000.

Question

Quizplus · Accepted Answer

The opportunity cost of attending college also includes the income that could have been earned if the student had worked instead of attending college. Therefore, the opportunity cost for this student is likely higher than $10,000 per year.

A Student Spends Four Years in College